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According to Dow Jones on August 23, after former US President Obama lifted the ban on oil exports at the end of 2015, US crude oil exports continued to rise, and now exports have finally shown a downward trend
.
U.
S.
oil exports fell to 1.
2 million barrels per day from 1.
6 million barrels the previous week, according to the weekly report released today by the U.
S.
Energy Information Administration (EIA).
While the weekly data may not be very credible, crude oil exports have fallen to 1.
5 million barrels per day over the past four weeks from 2.
1 million barrels in the previous four weeks
.
ION Energy's Kyle Cooper said the significant decline in U.
S.
crude exports was a weak signal
.
Analysts said the decline in U.
S.
crude exports was due to the recent narrowing of the gap between U.
S.
oil prices and international benchmark oil prices, and on the other, bottlenecks at U.
S.
ports that had been over-throughput, which were not prepared for
so many oil shipments.
According to Dow Jones on August 23, after former US President Obama lifted the ban on oil exports at the end of 2015, US crude oil exports continued to rise, and now exports have finally shown a downward trend
.
U.
S.
oil exports fell to 1.
2 million barrels per day from 1.
6 million barrels the previous week, according to the weekly report released today by the U.
S.
Energy Information Administration (EIA).
While the weekly data may not be very credible, crude oil exports have fallen to 1.
5 million barrels per day over the past four weeks from 2.
1 million barrels in the previous four weeks
.
ION Energy's Kyle Cooper said the significant decline in U.
S.
crude exports was a weak signal
.
Analysts said the decline in U.
S.
crude exports was due to the recent narrowing of the gap between U.
S.
oil prices and international benchmark oil prices, and on the other, bottlenecks at U.
S.
ports that had been over-throughput, which were not prepared for
so many oil shipments.
