Conditions right for U.S. oil exports

1 Mar 2017   exports, USA

A global market looking to balance OPEC output declines and an expected increase in U.S. pipeline capacity could make oil exports attractive, analysis finds. The U.S. Energy Information Administration reported last week that total crude oil production at just over 9 million barrel per day, showing the regional market is gaining ground despite crude oil prices at about half their peak from 2014. Total crude oil exports, meanwhile, passed 1 million barrels per day for their highest level ever. A 40-year-old ban on crude oil exports was overturned by President Barack Obama during his second term in office. U.S. oil transport is limited by the pipeline capacity feeding southern ports, though if the Dakota Access Pipeline is completed, that could move up to […]

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