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US crude oil exports rose by 50% in the first half of 2019

7 Oct 2019

According to the US Energy Information Administration (EIA), US crude oil exports continued to increase in the first half of 2019, rising to an average of 2.9 mb/d (+50% compared to the same period of 2018) and reaching a record-high monthly average of 3.2 mb/d in June 2019. Canada remained the largest importer of US crude oil (over 450 kb/d, +3% compared to the first half of 2018), whereas exports to China fell by 64% to 248 kb/d over escalating trade tensions. US crude oil exports to other destinations surged, especially in South Korea (+246% to nearly 400 kb/d), India (+114% to over 380 kb/d) and the Netherlands (+192% to over 260 kb/d). Overall, US export to Asian countries grew by 58% (+472 kb/d).

Despite this surge in crude oil exports, the United States remains one of the largest crude oil importer worldwide, with net imports of 1.4 mb/d in the first half of 2019 (from 6.1 mb/d in the first half of 2018).

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