US crude oil exports are expected to rise in 2022 and exceed an average of 3 million b/d as North American production rises amid a higher oil and gas pricing environment. However, US exports will not spike as much as crude production volumes this year because domestic demand also is expecte...
On the exports side, the US shipped $117 billion worth of crude petroleum oil in 2022. That dollar amount results from a 143.5% advance compared to $48.1 billion in 2021 and a 68.9% acceleration from $138.5 billion during 2018. The product-specific trade balance resulting from America’s bu...
US crude oil exports are expected to rise in 2022 and exceed an average of 3 million b/d as North American production rises amid a higher oil and gas pricing environment. However, US exports will not spike as much as crude production volumes this year because domestic demand also is expecte...
Overall, U.S. crude exports last week touched a weekly record of 5.1 million barrels per day (bpd), boosted by higher shale production. The U.S. benchmark West Texas Intermediate (WTI) traded at a nearly $9 a barrel discount to global Brent, compared to a $6 discount at the start o...
Texas: US$110.9 billion (93.6% of total US crude oil exports) Louisiana: $6.5 billion (5.5%) Alaska: $380 million (0.3%) North Dakota: $336.6 million (0.3%) New Jersey: $163.1 million (0.1%) Michigan: $92.9 million (0.1%)
The US is the world’s largest crude oil producer and now one of its largest exporters. Since a ban on US crude exports was lifted in 2015, the Gulf Coast has emerged as a key source of light sweet crude, which is shipped all over the globe, to Europ...
The US continues to play a growing role in global crude trade with its share of seaborne exports projected to reach 10% this year, up from 9% in 2022 and 1% in 2015 (the last year in which the export ban was in place). In large part, this has reflected impacts from the 'shale ...
U.S. crude oil inventories fell last week to their lowest level since 2022 as exports rose and imports fell, according to the U.S. Energy Information Administration. Gasoline and distillates rose more than expected. "The crude oil draw was largely on import-export dynamics," said Bob Yawger...
The decline in U.S. crude oil inventories was in large part the result of a surge in crude exports to a record 4.5 million bbl/d in the latest week.
The US Commerce Department has given the go-ahead to several companies to export crude oil, a big policy change essentially ending a ban in place for the last four decades. At question is whether the end of the ban will mean higher prices at the pump.