The Next Big Catalyst In The U.S. Oil Export Boom

27 Jul 2017   exports, USA

The Louisiana Offshore Oil Port plans to start exporting crude by early next year, in the latest indication there’s an oil export boom in the world’s top oil consumer. According to media reports citing an emailed LOOP statement, the private company operating the port is currently looking for potential producers interested in shipping their crude from LOOP. LOOP is certainly not the only port eyeing exports as shale output continues to grow. Yet it is the deepest one: it is the only port on the U.S. Gulf Coast capable of handling Very Large Crude Carriers, or VLCCs, which have a capacity of up to 2 million barrels of crude. As we noted earlier, the Gulf Coast is bustling with port-expansion activity as producers rush to send their crude overseas. Until relatively recently, the Port of Houston was where all the oil action in Texas took place. Now, things are […]

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