Energy markets have ‘ready supply’ of oil

Bloomberg

Global energy markets have “a ready supply” of oil as the US boosts production and exports and continues to seek deals to sell its crude and natural gas, Energy Secretary Rick Perry said.
The increase in US production and exports helped ease the price spike after attacks on Saudi oil infrastructure last month, Perry told reporters during a briefing in Dubai. The attack was “Iranian” and was increasing interest among regional countries to seek alternative oil export routes and security measures, he said.
Perry will be visiting Saudi Arabia in the coming week and he intends to discuss selling US liquefied natural gas to the Middle Eastern state and that country’s efforts to develop a nuclear program.
The boom in oil and gas production from shale fields has pushed the US to become one of the world’s largest producers and enabled it to become a net energy exporter in recent weeks.