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Water Management and Diplomacy (IJWMD)

While USA has been moving to become  a net oil exporter,oil price has also moved to increase

  Dursun Yıldız

Head of Hydropolitics Academy .dursunyildiz001@gmail.com November 2, 2018

SUMMARY

The United States has become an indispensable source of oil and gas supply. but the term “energy dominance” is somehow early for US. US can gain an ability to move markets and to reshape the global energy equation if the oil price increases in the same trend since 2017 The renaissance in U.S. oil and gas production over the past decade has been nothing short of remarkable. Technological advances unlocked new resources and brought about significant changes in global energy markets. U.S. oil and gas production has grown tremendously over the last decade. The United States became the world’s largest producer of petroleum hydrocarbons in 2013 and has been the world’s largest producer of natural gas since 2009. In crude oil production, the United States is in a dead heat with Russia and Saudi Arabia to lead the world. However, It should be noted  that the United States is a major oil and gas consumer as well. Energy security depends on a global market with prices set based on global market conditions. Growing U.S. oil production has already effected  the balance of power in oil markets. In addition to that the US is becoming an undisputed global leader in oil and gas production. It will have  major implications across the energy World.

Keywords: Oil Price ,USA Oil,Shale gas,

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