Sunday, November 6th, 2016

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US crude oil exports hit record high in September: data

The Business Times

Canada took in the most exports at 243,000 bpd, followed by Singapore at 99,000 bpd. Exports to Europe were also high, with Italy receiving some 81,000 bpd and Spain 41,000 bpd. Other prominent destinations included South Korea and the Netherlands.

The previous record was set in May when the United States exported about 662,000 bpd, according to US government data.

US crude exports have climbed since the lifting of a decades-old ban late last year.

The discount of US crude to Brent crude had widened to as much as US$2.67 a barrel in late August, the widest since February.

The US Energy Information Administration will release its closely watched monthly crude figures, which are based on the US Census data, at the end of this month.