U.S. Oil Exports
U.S. crude oil exports rose to 590,000 barrels per day in April, up 83,000 barrels from March reported by U.S. Census Bureau. Rigzone reports this is the highest level since 1920.
The largest buyers of the crude:
- Canada 324,000 bpd
- Curacao 90,000 bpd
- Bahamas 36,000 bpd
This comes just six months after the U.S. government lifted restrictions on crude exports.
The tireless lobbers against the ban- Chevron and Exxon Mobil- are the immediate beneficiaries of removing the ban. The oil trading companies Vitol BV and Trafirua, LTD also benefited.
Israel, China, Germany, France, and Switzerland have also placed to for American energy suppliers.
Conclusion…It seems the United States benefits when other democratic countries can purchase oil and gas that doesn’t support terrorist activities like we saw this week in Orlando. The shooter swore allegiance to the leader of ISIS, Abu Bakr al-Baghadadi, law enforcement told NBC news.