US pushes allies to buy American oil—but global energy markets may pay the price
NEW DELHI: Washington’s aggressive push to make its allies purchase American oil, despite being a net importer itself, is raising alarms over a potential global energy crunch, according to a Global Trade Research Initiative (GTRI) report released on Sunday.
World Bank data shows that in 2024, the US exported $298 billion in petroleum while importing $246 billion. In crude alone, it ran a $60 billion deficit, highlighting that the country is far from self-sufficient.
