U.S. crude oil sales to Asia quickly growing

11 Mar 2017   exports

The growing influence of U.S. crude oil exports to Asia was a topic at a recent oil conference in London. It had been 40 years since crude oil was exported from the United States to points outside North America. Export restrictions were repealed in 2015. Virtually no crude oil was sent to Asia in 2015, but between January and November 2016 the figure rose to 50,000 barrels per day, U.S. Energy Information Administration figures said. Exports to Singapore, China, Japan, Thailand and South Korea have already grown in 2017 as well. Demand for benchmark West Texas Intermediate crude oil is now about 14 percent […]

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