U.S. Crude Oil Exports Reach a Record High

kansas city star-01The Kansas City Star | June 7, 2016 |

U.S. crude exports jumped to a record in April as shipments kicked into high gear.

The U.S. in December repealed its 40-year-old export restrictions on crude oil. Since then, American crude has been finding its way into the world’s markets.

Total crude exports were about 17.7 million barrels, 13 percent higher than in March, according to Bloomberg calculations from data released by the U.S. Census Bureau. The 591,000 barrel-a-day average beat the previous high of 586,000 barrels a year earlier.

Increased demand for light sweet crude has boosted purchases from the U.S. Crude exports to destinations other than Canada exceeded those the U.S. sent to its northern neighbor for the first time since 2000, data released in May showed. Canada for years has been largely exempt from U.S. trade restrictions on crude oil.

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