Morningstar: US to become OPEC rival next year

Baku. 19 December. REPORT.AZ/ US will increase oil exports by 2018 and become OPEC main rival. 

Report informs citing the Forexpf.ru, this information was included in the study of the US information analytical company and rating agency Morningstar.

The study notes that, despite increasing oil prices, U.S. shale oil producers do not hurry to boost production due to the bitter experience of the recent crisis.Oil production continues to gradually increase with stability in the world market.The problems in the oil offered by the North Sea in the recent period have attracted Asian and European buyers to the United States.

Morningstar believes, the US exports will increase in January 2018. For this, some obstacles have been eliminated and transport capacity has been increased.Thus, the Gray Oak pipeline was put into operation in the Gulf of Perm, and the Cactus pipeline was extended.

According to the company forecast, the US oil export in 2018 will be 1.7 million barrels/day or increase by 80%. According to the company, while the US oil export indicator is volatile, infrastructure improvements can lead to signing long-term agreements.