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US crude oil exports hit record 662,000 bpd in May: Census Bureau

Wednesday, July 6, 2016 - 23:48

[NEW YORK] US crude oil exports rose to a record 662,000 barrels per day in May from 591,000 bpd in April, foreign trade data from the US Census Bureau showed on Wednesday.

Canada accounted for the most US crude exports at 308,000 bpd, followed by the Netherlands at 110,000 bpd and Curacao at 67,000 bpd. Other prominent destinations were the United Kingdom at 36,000 bpd, Japan at 29,000 bpd and Italy at 23,000 bpd.

The total export figure was the highest on record since at least 1920, according to US government data.

US oil exports have risen since a decades-long ban on them was lifted in January. During that time, a number of merchants, traders, producers and even refiners have moved crude to Latin America, Europe, Asia and other locations.

The Census Bureau publishes its oil export data weeks before the closely watched US Energy Information Administration trade figures. The EIA, which bases its numbers on the Census data, will release its monthly crude figures at the end of July.

REUTERS