UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
US crude exports risen sharply
Since the removal of restrictions on exporting US crude oil in December 2015, the number of countries receiving exported US crude has risen sharply. These exports have occurred despite a sustained narrow price premium of international crude oil prices over US domestic crude oil prices, the many costs associated with arranging cargoes for export, and falling US crude production.
According to the latest figures from the US Energy Information Administration (EIA), in the first five months of 2016, US crude oil exports averaged 501,000 b/d, 43,000 b/d (9%) more than the full-year 2015 average.
News Item details
Journal title: Petroleum Review
Subjects: Banking, finance and investment, Oil markets, Economics, business and commerce, Energy consumption, Commercial, Crude oil, Oil prices
