United States crude oil exports averaged 520,000 barrels per day in 2016, 55,000 b/d – or 12% – above the 2015 level, despite a year-on-year decline in domestic crude production, the Energy Information Agency (EIA) reported on Tuesday.
"Following the removal of restrictions on US crude exports in December 2015, the US exported crude to 26 different countries in 2016, compared with 10 countries the previous year. In 2015, 92% of US crude exports went to Canada, which was exempt from US crude export restrictions. After...
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