A jump in US oil exports

An economic report released Tuesday by Bloomberg highlighted US oil exports and said it had jumped more than 70 percent last year to more than a million dollars. barrels a day.

The agency pointed out that US average oil exports have surpassed the three million barrels per day recorded over the last four weeks, which exceeds what Kuwait sells oil.

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What started in the United States as a phenomenon, in reference to shale oil, is now a reality, because it was hard to imagine the rise in US oil exports at that level a few years ago to sentence.

In its report, Bloomberg predicted that crude oil would continue to arrive from the United States over the next few years, which would have serious consequences for OPEC, which will have to meet the challenge of keeping oil prices down. high.

US oil exports have increased since the end of 2015, when Washington lifted a 40-year ban on most of its overseas oil sales.

Petroleum traders and oil industry officials estimate that US crude oil exports will reach 5 million bpd by the end of 2020, up 70 percent from current levels.

Source: Bloomberg