Title : U.S. Is Now A Net Petroleum Exporter
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U.S. Is Now A Net Petroleum Exporter
Oil & Gas 360: US to become net petroleum exporter in Q4 2019
The US is expected to become net petroleum exporter in the fourth quarter of 2019, Trend reports citing the US Energy Information Administration (EIA).
EIA forecasts that continued growth in petroleum product exports, albeit slower than in previous years, combined with increasing US crude oil exports, will result in the United States becoming a total petroleum net exporter. EIA October 2019 Short-Term Energy Outlook forecasts this change to occur in the fourth quarter of 2019.
In the first half of 2019, the United States exported an average of 5.47 million barrels per day (b/d) of petroleum products, an increase of 19,000 b/d (0.3 percent) from the first half of 2018 and the slowest year-over-year growth rate for any half year in 13 years.
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