Shafaqna English– As the United States becomes the world’s largest oil exporter, the decades‑old order that Saudi Arabia and Russia had long dominated has collapsed. This shift increases American companies’ control over energy markets while the U.S. war with Iran transforms the structure of global energy trade.
The economic situation of the United States began to transform after 2010. The explosive increase in oil and gas production from shale formations first brought the U.S. the top gas producer position and then the number one spot in oil production.
Source: Reuters