IHS Markit attributes a $250 billion reduction in the nation's trade deficit to the domestic shale and natural gas production boom since 2007, which is putting the US on course to become a net petroleum exporter by the early 2020s. Crude oil imports declined from over 10 million barrels daily in 2007 to 7 million barrels a day last year, IHS data show.
Report: US may become net exporter by early 2020s
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