U.S. offshore has unique oil export potential

3 Nov 2017   Offshore

Big energy companies with deep pockets could carve out a durable U.S. position on the global energy market with offshore production, analysis found. The U.S. Energy Information Administration reported total crude oil exports topped 2 million barrels per day for the first time since a 40-year-old ban on exports was lifted under President Barack Obama in 2015. Geoffrey Craig, the oil futures editor for commodity pricing group S&P Global Platts, said in an emailed report that exports were supported by the lower price for West Texas Intermediate, the U.S. benchmark for the price of oil, relative to Brent, the global benchmark. “This trend [for exports] is not surprising with Brent’s premium to WTI […]

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