The United States became a net oil exporter last week for the first time in 75 years , and even if it is likely to be for just one week, the achievement highlights the increasing global influence of the soaring U.S. crude oil production. According to Bloomberg and data from the American Petroleum Institute, the United States had been a net oil importer since 1949. In the week to November 30, however, the weekly U.S. net imports of crude oil and petroleum products were at minus 211,000 bpd —meaning that the U.S. was a net exporter of that amount, according to data from the EIA. So far in 2018, the U.S. net oil imports have averaged around 2 million bpd, while the record net oil imports of 14.370 million bpd was set in November 2005. The most vital industry information will soon be right at your fingertips Join the […]