Exports of American oil increased by 45 percent last year compared with 2018, with US firms shipping nearly 3 million barrels per day to 44 nations, the Energy Information Administration said in a report on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 12th March, 2020) Exports of American oil increased by 45 percent last year compared with 2018, with US firms shipping nearly 3 million barrels per day to 44 nations, the Energy Information Administration said in a report on Thursday.
"US crude oil exports averaged 2.98 million barrels per day (b/d) in 2019," the report said. "Growth in US crude oil exports was driven by increasing US crude oil production, expanding domestic infrastructure and increasing global demand for light, low-sulfur crude oils."
The number of destinations for US crude also increased from 41 to 44. Canada received the largest share of US oil exports at 459,000 b/d (15 percent), followed by South Korea at 426,000 b/d (14 percent), the report added.
Increased exports were more than enough to offset a decline in US oil shipments to China, which averaged 133,000 b/d in 2019, compared with 232,000 b/d in 2018, according to the report.
