A petro-tipping point: U.S. to surpass Saudi oil exports

What they're saying: "This remarkable turnaround is made possible by the continued rise in oil production from [U.S.] shale plays and the increased oil export capacity from the Gulf Coast," the consultancy said in a brief report.

But, but, but: The U.S. is not rivaling the Saudis when it comes to crude oil exports anytime soon, even as the U.S. crude shipments grow.

• Numbers bounce around but overall the Saudis are exporting around 7 million barrels per day of crude. The U.S. levels — which have grown sharply in recent years — are still typically much less than half that amount.
• But the U.S. exports lots of gasoline, diesel and other petroleum products.

The bottom line: The Saudis are at around 9 million barrels per day when you combine crude, natural gas liquids and other petroleum products. The U.S. is at around 8 million and rising.

Go deeper: The climate effect of high oil production and lower prices