US crude oil exports in November reach record high: US Census
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop
Oil settles near 7-week lows, focus shifts to economy
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates