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Slow Down - Combination Of Factors Pull U.S. Crude Oil Exports Back From Record Highs
The U.S. has become an oil-exporting powerhouse in recent years, propelled by booming shale production, notably from the Permian Basin. U.S. crude oil now flows more freely than ever to help meet global demand, including to Europe, which increasingly turned to the U.S. following Russia’s invasion of Ukraine two-plus years ago, but exports have slowed recently. In today’s RBN blog, we examine a half-dozen reasons why the export surge has tapered off and why it may not change much in the weeks ahead. According to our weekly Crude Voyager report, where we track individual vessels leaving the U.S. Gulf Coast with ... (full story)