15/06/2026
In May 2026 the United States claimed the title of the world's largest oil exporter for the third consecutive month, shipping 10.5 million barrels of crude and fuel per day. Russia exported 7 million barrels while Saudi Arabia exported 5.9 million. Just a year earlier in 2025 Saudi Arabia led with 8.1 million barrels per day compared to the US at only 6.6 million.
Since the US-Iran war began in February 2026, Saudi oil flows through the Strait of Hormuz were disrupted while Russian exports were battered by Ukrainian drone strikes and Western sanctions. American companies quickly filled the gap. Europe absorbed 47% of US oil exports so far in 2026, up from 37% in 2021.
A country that suffered an oil embargo in 1973 just became the world's top oil exporter. History does not always repeat. Sometimes it reverses completely.
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Source: Reuters / Vortexa / June 11 2026