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Crude oil exports reached a record 900,000 barrels per day in the first half of 2017, according to Energy Department data.
EIA reported that “China increased its crude oil imports from the United States by 154,000 b/d and became the second-largest importer of U.S. crude oil, averaging 163,000 b/d in the first half of the year.”
Canada is still our biggest crude oil trading partner, but increasingly U.S. companies have been shipping fuel to China and Europe.
EIA reported that “China increased its crude oil imports from the United States by 154,000 b/d and became the second-largest importer of U.S. crude oil, averaging 163,000 b/d in the first half of the year.”
Canada is still our biggest crude oil trading partner, but increasingly U.S. companies have been shipping fuel to China and Europe.
The US Is Flooding The World With Cheap Oil
Posted from dailycaller.com
United States
Family
Oil and Energy
International Trade
Freedom
Posted 7 y ago
Responses: 8
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How dare the United States produce more oil? Why what will happen to OPEC? You know what - I DGAF about OPEC.
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SGT Jim Arnold
LTC Orlando Illi - most of the oil workers here in Texas are waiting for the other shoe to drop and repeat what carter did to us. Driving Cadillacs and food shopping with food stamps
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LTC Orlando Illi
LTC (Join to see) - OPEC is as afraid of American and Canadian oil reserves; as well they should be. OPEC politicized oil production and when they drove the price per barrel high enough to make shale oil profitable - the bottom fell out. Law of unintended consequences and the U.S. Oil industry is very grateful for the assistance
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That is why, when oil prices tanked and all the OPEC countries all called for reduction, Saudi Arabia would not cut, they were hoping that if oil hit low enough U.S. companies would fold and stop producing. But it did not work, plus it hurt Iran, and Saudi Arabia was willing to take the hit if Iran suffered.
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Sgt Wayne Wood
And Russia... post-Soviet Russia is essentially an oil-based economy... explains the restiveness around Ukraine/Crimea and (eastern) Syria
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It's called supply and demand; every oil producing country has done this at one point or another.
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