07192018Thu
Last updateThu, 19 Jul 2018 4pm

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End-User News

Shale Boom Leading to Record Oil Exports

“Americans are expected to end the year pumping oil out of the ground at rates unseen since the early 1970s. More and more of it is going overseas, giving OPEC a headache as the group restrains its own output,” Bloomberg  reports.

“Last year the U.S. tested the export waters after a nearly four-decade-old ban was removed. But this year, purchases of U.S. light, sweet crude have skyrocketed as pipeline and dock infrastructure was built out and the wider price spread between Brent and West Texas Intermediate crude coaxed more cargoes abroad.” 

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