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Oil and gas wells on Denver International Airport property. Photo: Robert Alexander/Getty Images

Rising U.S. exports of crude oil and petroleum products (like gasoline) combined are poised to overtake Saudi Arabia's by the end of the year, Rystad Energy predicts in a new analysis.

Why it matters: It's a testament to how the U.S. oil boom is increasingly affecting global trade. And it's just symbolically interesting.

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

Go deeper

AOC and Ilhan Omar want to block Biden’s former chief of staff

Reps. Ilhan Omar and Alexandria Ocasio-Cortez. Photo: Brendan Smialowski/Getty Images

Reps. Alexandria Ocasio-Cortez and Ilhan Omar are boosting a petition against Joe Biden nominating his former chief of staff to a new role in his administration, calling Bruce Reed a "deficit hawk” and criticizing his past support for Social Security and Medicare cuts.

Why it matters: Progressives are mounting their pressure campaign after the president-elect did not include any of their favored candidates in his first slate of Cabinet nominees, and they are serious about installing some of their allies, blocking anyone who doesn't pass their smell test — and making noise if they are not heard.

2 hours ago - Podcasts

Butterball CEO Jay Jandrain talks turkey

Butterball estimates that it sells one out of every three Thanksgiving turkeys, but knows that this year's celebrations will be different than years past.

Axios Re:Cap talks with the turkey giant's CEO Jay Jandrain about what people are buying, what they're asking the "Turkey Talkline" and what the pandemic has meant for his business.

Biden introduces top national security team

President-elect Joe Biden's nominee for Secretary of State Antony Blinken spoke Tuesday at an event introducing the incoming administration's top national security officials, where he told the story of his stepfather being the only one of 900 children at his school in Poland to survive the Holocaust.

What they're saying: "At the end of the war, he made a break from a death march into the woods in Bavaria. From his hiding place, he heard a deep rumbling sound. It was a tank. But instead of the iron cross, he saw painted on its side a five pointed white star," Blinken said.