US oil exports hit record high in June

US crude oil exports jumped 260,000 barrels a day in June to a record 3.16 million barrels a day. South Korea bought record volumes and China resumed buying, according to data released by the US Census Bureau.

South Korea surpbaded Canada to become the largest buyer of US crude oil at around 605,000 bpd.

China bought about 292,000 bpd, the highest level of purchases since last June.

The data showed that China was the third largest US oil buyer in June.

US crude oil exports have risen since the lifting of the export ban in late 2015, with shipments reaching 30 in June.

Among the largest buyers of US crude, Canada imported 311,000 barrels a day, while India bought 290,000 barrels a day, followed by the Netherlands, which imported about 274,000 barrels a day.

India, the world's third-largest oil importer, increased its purchases of US crude after Washington imposed sanctions on Iran in November.