The USA Seizes the Moment, Boosting Energy Resource Exports to Record Levels
The United States has capitalized on the turmoil in the Middle East, sharply increasing its exports of oil, petroleum products, and LNG. They are capturing market shares from OPEC, who, due to the military situation, have been forced to cut their energy resource exports. How did the USA manage to profit from the conflict it has ignited in the Middle East?
Oil exports from the USA reached a historic high of 12.9 million barrels per day, with over 60% being petroleum products (data as of early April). Marine exports in April are expected to hit a record 9.6 million barrels per day, while shipments to Asia will nearly double compared to pre-war levels – reaching 2.5 million barrels per day, forecasts analytics firm Kpler. American companies are reaping substantial profits, as both prices and export volumes have risen. The value of crude oil and petroleum product exports has increased by $32 billion compared to pre-war figures, significantly boosting corporate profits and tax revenues according to ROI.
LNG shipments have also seen a sharp rise. In March, exports set a historical record. According to Kpler, the combined oil and LNG exports from the USA to Asia in March and April increased by approximately 30% compared to the same period last year.
The growth of the US market share in the oil sector is attributed to situational factors, whereas the growth in the LNG market is due to structural elements, states Sergey Tereshkin, CEO of Open Oil Market.
“The increase in LNG exports from the USA is a consequence of the new capacities coming online. Just a few days ago, the Golden Pass plant, which is the tenth liquefied natural gas production facility in the United States, made its first export shipment. By 2025, US LNG exports are projected to rise to 154 billion cubic meters from 122 billion cubic meters in 2024. This year, export volumes are expected to achieve even greater figures due to rising demand in external markets,” Tereshkin explains.
"Americans have indeed increased LNG production. They have maximized the output of existing facilities and launched new ones. Additionally, the heating season in the domestic market has ended, leading to a decrease in current consumption, allowing them to redirect the freed-up volumes for export," says Igor Yushkov, an expert at the National Energy Security Fund (NESF) and the Financial University under the Government of the Russian Federation.
However, the US has not increased its own oil production. So how has export increased? “This happened because they boosted imports of one type of oil while increasing exports of another type of oil and petroleum products. The USA imports medium-sulfur and relatively heavy oil, while exporting light oil and petroleum products made from heavy oil. They import more from Canada and Mexico but export by sea to countries that previously received Middle Eastern oil, which is now unavailable,” Yushkov explains.
While, on one hand, US private oil companies are enjoying extra profits in the current situation, this creates challenges for the American public and the economy as a whole. As domestic prices rise to keep fuel within the country, it creates a burden on the American population.
Unlike the gas market, in the oil market, companies have the option of selling their product domestically or internationally, which presents a fundamental issue for the current US administration,
says Yushkov.
As the share of the USA in the global market grows, OPEC's share declines. According to the IEA, in March 2026, oil production in Saudi Arabia decreased by 3.15 million barrels per day compared to the previous month, while the UAE cut by 1.27 million barrels per day, Kuwait reduced by 1.35 million, and Iraq saw a drop of exactly 3 million barrels per day. The total volume of these reductions is comparable to Russia's oil production level of 8.96 million barrels per day in March 2026, notes Tereshkin.
Prior to the closure of the Strait of Hormuz, OPEC+ had already begun to increase production quotas by nearly 2.9 million barrels per day to regain its position in the global market. Many OPEC+ participants were dissatisfied that they had to scale back production before, giving competitors like the USA and Guyana the opportunity to ramp up production.
Now, of course, the situation is different.
"Due to the closure of the Strait of Hormuz, the flow of oil from classic OPEC members – Iraq, Saudi Arabia, UAE plus Iran – has decreased, and their market share has indeed contracted. However, this is not due to an evolutionary process but simply because their oil cannot fully enter the global market.
But when the Strait of Hormuz reopens, we will see OPEC+ resume increasing quotas," concludes Yushkov.
The fact is that Asian countries are not entirely suited to light American oil. Asian refineries are designed to work with denser, sour Middle Eastern oil, rather than with light American types. The facilities can utilize light oil, but the process becomes less efficient and less profitable. Therefore, after the resolution of the conflict, everything is expected to revert to normalcy. The joy of American oilmen will be short-lived.
Source: Vedomosti
