There is going to be a huge global economic dislocation in the OPEC nation in this coming decade. They have put a date – 2024 – to it. Yes, U.S. may overtake Saudi Arabia as the top oil exporter by 2024. When that happens, OPEC will become like a high school club, more debates but nothing more. Nigeria is a member of OPEC.
The United States may overtake Saudi Arabia as the world’s top oil exporter by 2024, according to the International Energy Agency, which sees global demand growing by 1.2 million barrels a day until then, with the U.S. providing 70% of new supplies. “This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy,” said IEA executive director Fatih Birol. (Fortune newsletter)
In this note, I examine the post-petroleum era in Nigeria.