RIG - With The U.S. Exporting 20% Of Its Oil Production What Midstream Companies Could Benefit?
By Stacey Morris
The US is on track to become the world's largest oil producer based on 2019 production forecasts from the Energy Information Administration ((EIA)). Moreover, the International Energy Agency ((IEA)) forecasts that the US will account for more than half of the worldwide growth in oil production capacity over the next five years. As the US becomes the world's premier oil producer and the main driver of oil production growth, crude exports from the US are set to grow. Several factors are supportive of export growth, including the sheer increase in oil output