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US crude oil exports went to more destinations in 2016
US crude oil exports averaged 520,000 b/d in 2016, some 55,000 b/d (12%) above the 2015 level, despite a year-over-year decline in domestic crude oil production, according to the latest figures from the US Energy Information Administration (EIA). Even though oil exports increased, growth in US crude oil exports has slowed significantly from 2013 to 2015, when annual US crude oil production grew rapidly.
Following the removal of restrictions on US crude oil exports in December 2015, the US exported crude oil to 26 different countries in 2016, compared with 10 countries the previous year. In 2015, 92% of US crude oil exports went to Canada, which was exempt from US crude oil export restrictions. After restrictions were lifted, Canada remained the top destination but received only 58% of US crude exports in 2016, according to the EIA.
