API contends it’s a win for US consumers. U.S. crude oil production and exports reached historic highs in the final month of 2019, the American Petroleum Institute (API) reported Thursday. API stated that petroleum exports set a new record of 9 million barrels per day (bpd) in December, citing data from its December 2019 Monthly Statistical Report (MSR). The organization added that U.S. crude production posted its fifth consecutive monthly increase to hit 12.9 million bpd – another all-time high the industry achieved last month. “The strong December performance capped a historic year in America’s energy revolution,” API Chief Economist Dean Foreman commented in a written statement emailed to Rigzone. “The global impact of this success story has become increasingly clear as the U.S. provided stability in a global marketplace rattled by geopolitical and economic headwinds. Look no further than the market’s mild reaction to recent Middle East tensions, […]