The United States has become the world’s largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia. This shift tightens American companies’ grip on energy markets as Washington’s war with Iran reshapes global energy trade.

US Oil Boom

America’s ascendancy to the top spot marks a stunning reversal for a country that was dependent on Middle Eastern oil for decades and suffered from an oil embargo imposed by some OPEC members in 1973 to retaliate against U.S. support for Israel.

U.S. fortunes began to change after 2010, when oil and gas output from its shale formations soared, first making it the world’s top gas and then the world’s top oil producer. With the U.S.-Iran war disrupting Saudi oil exports since February 2026 and Russian oil exports suffering from Ukrainian drone attacks and U.S. sanctions on Moscow for the invasion of Ukraine, the U.S. has become the world’s leading oil exporter.

U.S. exports of crude and fuel climbed to about 10.5 million barrels per day in May on the back of high output and the release of strategic reserves, data from ship tracking services Vortexa showed, making the U.S. the top global exporter for the third month in a row.

Global Impact

The new U.S. dominance could weaken the pricing power that the Organization of Petroleum Exporting Countries and its allies have historically held over oil markets. U.S. President Donald Trump has long criticized OPEC for manipulating the markets.

European countries have leaned heavily on the United States in the years since the Ukraine war began in 2022. The continent took about 47% of U.S. oil exports so far this year, compared with 37% in 2021.

Asian countries, which used to buy the bulk of their crude from the Middle East, are also now increasingly relying on the U.S. for supplies. Asia accounted for about 46% of U.S. oil exports in May, compared with around 37% last year.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.