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U.S. Oil Exports Double, Reshaping Vast Global Markets
Keywords: U.S. Oil Exports, Oil Prices 2016 2017,
U.S. oil exports are expected to average 1 million barrels a day for all of 2017. In 2016 in some months the average was 1 million barrels a day. U.S. oil exports make up 1% of global oil volumes, yet the added inventory has helped keep prices in the range of $46 to $55 a barrel in mid 2017. American crude is at a $2.50 discount over the Brent crude benchmark, making it profitable to export to far away locations. Back-haul economics also helps as tankers coming back from the middle east can now take crude back with a stop in Europe. Oil exports go to China and Europe. Production declines in China have led to China importing from the U.S.
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Opposing interests of oil producers and refiners in the U.S. for export of crude oil- 2014-2015
02/12/2014
Refiners oppose exports of oil to have increased access to crude oil supplies for refining. Oil producers see opportunities for increasing exports. The Obama administration is expected to move slowly on a decision to export, coming up with some compromises including exchanging lighter crude for Mexico's heavier crude oil.
Grouped Articles
Conflict in Oil Industry, Awash in Crude
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Canada Looks to Sell Its Oil Beyond U.S.
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Grouped Articles
U.S. Oil Exports Double, Reshaping Vast Global Markets
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Oil’s Fall Continues Into 2015, and Stock Markets Shudder
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Shale gas and reindustrializing the U.S. midwest
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U.S. Oil Exports Double, Reshaping Vast Global Markets
WSJ 06/07/2017
Effort to Crush Shale Producers Only Made Them Stronger
WSJ 06/09/2017
Saudi price strategy in 2015 and U.S. shale oil drillers
01/10/2015
Grouped Articles
Saudi Arabia’s Cure for Shale Could Entail Shock Therapy
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Wall Street Journal 01/14/2015
New King in Saudi Arabia Unlikely to Alter Oil Policy
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Shale-Oil Producers Ready to Raise Output
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U.S. oil exports 2010-2015
03/31/2010
Increasing oil exports from Gulf Coast refineries in the U.S. to Latin America.
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U.S. oil exports 2016-2017
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Grouped Articles
U.S. Oil Exports Double, Reshaping Vast Global Markets
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Saudi oil price cuts in November 2014 to increase U.S. market share- with market share decline to 4.6% in August 2014 from 7% in August 2013
11/04/2014
U.S. imports of Saudi oil declined to 894,000 barrels a day from a high of 1.6 million a few months earlier. Saudi price cuts in November 2014 in the U.S. market, while decreasing prices in tight Asian markets, was designed to reverse the drop in market share. NYMEX price of oil dropped below $80 by early Nov. 2014.
Grouped Articles
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Energy Quakes as OPEC Stands Pat
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OPEC’s Weapon of Mass Inaction
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Free Fall in Oil Price Underscores Shift Away From OPEC
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Oil Slide Deepens, Ruble Crumbles
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Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
U.S. oil inventories and oil prices- May 2015
05/14/2015
Grouped Articles
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
U.S. Oil Exports Double, Reshaping Vast Global Markets
WSJ 06/07/2017
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