U.S. Lifted The Crude Oil Export Ban, And Exports Went… Down

29 Mar 2016   exports

Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before , when the ban was still in place. According to Clipper Data market intelligence cited by the Financial Times , we’ve seen a 5 percent decline in U.S. crude oil export volumes since the beginning of this year. The data suggests that on average we are exporting (waterborne) 325,000 barrels per day now, compared to 342,000 barrels per day during the first months of 2015. And there’s no official data yet—not since the beginning of this year, when the U.S. Energy Information Administration (EIA) noted that during the week ending 22 January , the U.S. had exported just shy of 400,000 barrels of oil, which again was 25 percent less than what was exported for the […]

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