U.S. Oil Exports Double, Reshaping Vast Global Markets

U.S. Oil Exports Double, Reshaping Vast Global Markets

Global markets are getting a jolt with U.S. oil exports doubling. The United States has reached 1 million barrels a day during some months in 2017, double the pace of 2016, and is expected to average that amount for the remainder of the year. Low oil prices would typically lead to a slower pace of drilling, but Congress lifted a ban on oil exports in 2015, causing shipments from Texas and Louisiana to skyrocket. U.S. exports make up only 1% of the world’s volume of oil.

Read more about U.S. oil exports here:

No comments yet.

Leave a Reply