You are here

US crude oil exports in November reach record high: US Census

Wednesday, January 7, 2015 - 22:50
ALcrude.jpg
US crude oil exports reached a record high 501,766 barrels per day in November, a leap of nearly 126,000 bpd from the month prior, data from the US Census Bureau showed on Wednesday.

[NEW YORK] US crude oil exports reached a record high 501,766 barrels per day in November, a leap of nearly 126,000 bpd from the month prior, data from the US Census Bureau showed on Wednesday.

The exports were the highest recorded since data was available in 1920 from the US Energy Information Administration, eclipsing the previous high from 1957.

Most of the exports headed to Canada, which saw a nearly 104,000 bpd increase to 455,000 bpd. Meanwhile, exports to China - the first on record since January 2013 - were 9,600 bpd.

Exports to Singapore were some 17,000 bpd with no exports month over month. Exports to Switzerland were 20,300 bpd compared with 7,600 bpd in October.

A US law dating back to the oil shortages of the 1970s generally bars exports of domestically produced crude, but shipments to Canada are broadly allowed, as are re-exports of foreign oil. The figures combine domestically produced and re-exported crude oil.

REUTERS

Powered by GET.comGetCom