U.S. Crude Exports Hit 96 Year High

7 Jun 2016   exports

Mid Continent Well U.S. crude oil exports rose to 591,000 barrels per day in April, up 83,000 barrels from March, according to new data from the U.S. Census Bureau on Friday. The total figures are the highest since at least 1920, Rigzone reports. A majority of the crude – 324,000 bpd of it – went to Canada, 90,000 more went to Curacao and 36,000 others went to the Bahamas. The figures come almost six months after the U.S. government lifted restrictions on crude exports. Related: Does Iran Have The Upper Hand In OPEC Oil War Three months after the authorities lifted the four-decade ban, the U.S. had exported less in the first quarter of 2016 than it did over the same period the year before, when the ban was still in place. The immediate beneficiaries of the ban suspension are gas and oil companies such as Chevron and Exxon […]

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