U.S Oil Exports Surge And Complicate Market Rebalancing 06/18/17 •lweb.es/f2869 •bit.ly/2ueR2Gg
US crude exports averaged more than 1 million barrels a day in April, driven by the significant discount of US crude prices relative to global benchmarks. New infrastructure, like the 520,000 barrels a day Dakota Access Pipeline, has reduced costs to move crude to the Gulf Coast, while major projects are underway at US Gulf Coast ports that will increase the region’s export capacity. These outward flows have served as an outlet for rising US crude production and have displaced other barrels that have struggled to then find a home.