New Delhi: Gulf countries are known for their huge oil reserves. As soon as the discussion of oil starts, mind of Gulf countries starts coming in mind. But in this race, the country that once used to be the world's largest oil importer also became involved. The US had long depended on its Gulf allies, especially Saudi Arabia, for oil. But now he himself has become one of the world's largest oil exporters. It also became the top oil exporter in June this year, although it lagged behind Saudi Arabia in July-August.

But the race to remain the largest oil exporter still remains. The US emerged as the largest exporter in June due to record production of shale oil. In a report by the International Energy Agency, the US exported 9 million barrels of crude and oil products per day in June due to increased production of shale oil. In this way, it reached the first place in terms of oil exports.

According to Bloomberg's report, the International Energy Agency (IEA) report said that there is still potential for more oil exports as companies develop infrastructure to send products from production fields in Texas and New Mexico to coastal areas . OPEC countries have cut production for three years to eliminate their earlier stock. However, the campaign of OPEC countries has suffered a setback due to increased supply from the US. However, due to trade war, the US has also cut oil production.

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