An increase in US crude oil exports means an increase in global crude oil supply

Huitong Network2month24Daily News - United Statescrude oilExport volume exceeded for the second consecutive week10010000 barrels/The increase in this number is very significant after more than a year of lifting the crude oil export ban in the United States.
The daily export volume of US crude oil has exceeded for two consecutive weeks100Ten thousand barrels, or a factor contributing to the decline in oil prices
EIAThe report released on Thursday showed that US crude oil as of2month17The daily export volume has reached a record breaking level120bucket/Day.
The daily export volume of US crude oil has exceeded for two consecutive weeks100Ten thousand barrels, or a factor contributing to the decline in oil prices
Former US President Obama2015year12month15Japan signed the agreement passed by the US Congress2016The Comprehensive Appropriations and Tax Incentives Act for the fiscal year includes provisions to lift the ban on crude oil exports. The previous sales were mainly aimed at Canadian refineries. At the beginning of the lifting of the ban, crude oil exports slightly increased, but they have begun to accelerate. Benefiting from the more favorable prices of certain grades of American crude oil and the changing economic conditions of transportation in the Gulf of Mexico.

The head of the energy security program at the Brookings Institution has stated that an increase in US crude oil exports means an increase in global crude oil supply, which may further lower international oil prices.

Global Crude Oil Market Dynamics Data CompanyClipper DataAccording to reports, Western Oil Company's oil terminal in Texas has been operating since last year11Since the start of export operations in the month, it has become the largest source of crude oil exports this year, with the company located in TexasFreeportThe terminal has taken on more crude oil exports.

Beijing Time2month24Day ZeroEIAAccording to published data, as of2month17Last week, crude oil inventories increased in Japan56.4Ten thousand barrels, marking the seventh consecutive week of increase. Far lower than the predicted value added by economists340Ten thousand barrels. Crude oil imports last week73010000 barrels/Day, down from the previous week12010000 barrels/Day.

In addition, as of2month17Day and WeekEIAOklahoma Cushing crude oil inventory decline152.8Ten thousand barrels, a decrease from last year10month14The largest since the current week, higher than expected2.510000 barrels and previous value70.2Ten thousand barrels.
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