US oil exports hit a record in June



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US oil exports hit a record in June
Oil pump in Texas

Reuters

US crude oil exports jumped 260,000 barrels per day (bpd) in June, reaching a record high of 3.16 million bpd. South Korea bought record volumes and China resumed buying, US Census Bureau data reported on Friday.

South Korea beat Canada to become the largest buyer of US crude oil in quantities of about 605,000 barrels a day.

China has bought about 292,000 barrels a day, its highest level of purchases since last June.

The data showed that China was the third largest US crude buyer in the United States in June.

US crude oil exports have risen since the lifting of the export ban in late 2015 and shipments reached 30 countries in June.

Of the other major buyers of US crude oil, Canada imported 311,000 barrels a day, while India bought 290,000 barrels, followed by the Netherlands, which imported 274,000 barrels a day.

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

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