World’s Biggest Oil Traders Zero In On Shale Hot Spots

12 Jul 2017   Shale Oil

U.S. shale oil is in the spotlight once again, this time not as a deterrent to a price improvement, but as the future of the global oil industry. It’s just like the early days of the shale revolution, when enthusiasm was high and everyone rushed to drill in the shale patch. Now, the world’s top commodity traders have gone on a shale rush. Crude oil exports were banned in the U.S. until 2015, when the shale boom finally convinced lawmakers that it would make sense to export some of the crude that the shale patch was yielding. Although tentatively at first, total U.S. oil exports hit 1.3 million bpd at the end of May. Now, shale exports are set for further increases as global oil traders turn to the U.S. to satisfy their clients’ demand for the commodity. Bloomberg’s Andy Hoffman recently wrote a piece on traders such as […]

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