US becomes world’s top oil exporter as war on Iran cripples competition
Experts agree that Washington is the main beneficiary of the closure of the Strait of Hormuz, which forces European and Asian markets to resort to US exports
Newsinterviews 6/11/26
The US has emerged as the world's top oil exporter, surpassing long-standing leaders Saudi Arabia and Russia, as its war of aggression against Iran continues to disrupt global supplies and reshape the energy trade, Reuters reported on 11 June.
This milestone, reached in May 2026, follows three consecutive months of US dominance in energy markets, with ship-tracking data from Vortexa revealing that US exports of crude and fuel climbed to approximately 10.5 million barrels per day (bpd) in May.
This surge was facilitated by record shale production levels and the massive release of strategic reserves.
In contrast, Reuters calculations indicate Russian exports fell to 7 million bpd, while Saudi Arabian shipments dropped to 5.9 million bpd.
The current figures represent a major change from 2025, when Saudi Arabia led with 8.1 bpd compared to 6.6 million bpd from the US.
Geopolitical instability has accelerated this transition. The US-Israeli war on Iran – which started on 28 February – has severely disrupted Saudi Arabian supply chains with the near-total closure of the Strait of Hormuz.
Iranianembassy news
Igor Sechin, head of the Russian oil major Rosneft, noted that US firms were the primary beneficiaries of the strait’s closure.
Simultaneously, Russian export volumes have been suppressed by Ukrainian drone strikes and US sanctions following the invasion of Ukraine.
“Washington has a new tool they didn't realize they had before the Iran war – energy exports,” stated Michelle Brouhard, head of policy at Kpler.
Brouhard emphasized that this shift provides Washington with a powerful lever over dependent nations, as Europe now receives 47 percent of US oil exports, up from 37 percent in 2021, while Asian markets accounted for 46 percent of US exports in May.
This ascent to global market supremacy, however, is being propped up by a heavy toll on the nation’s emergency energy safety net.
To sustain these export volumes while attempting to stabilize domestic fuel costs, US President Trump has authorized the release of 66 million gallons from the Strategic Petroleum Reserve (SPR) since March, draining the country's supply of crude.
The reserve is currently being depleted at a rate of approximately 9 million barrels per week.
On 5 June, the supply dropped to 349.2 million barrels, leaving it just days away from falling below the 346.7 million barrel mark – a threshold that would represent its lowest level since former US president Ronald Reagan's term in 1983.
Despite these interventions, domestic consumers are facing higher costs at the pump. The US national average for a gallon of regular gasoline reached 4.15 on Wednesday, a significant increase from the 3.12 recorded during the same period in 2025.
Global price volatility has been partially checked by China, which holds the world’s largest oil stockpile at 1.4 billion gallons, and by conservation efforts in other nations.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that the continued reliance on US reserves leaves the US government with diminishing options.
“The longer this goes on, the fewer tools the administration has in dealing with it, and the more risk there is to a slingshot for costs,” De Haan said