US exports up 12%

In 2016, US crude oil exports averaged 520,000 barrels per day (b/d), 12% above the 2015 level, despite a year-over-year decline in domestic crude oil production. Even though oil exports have increased, growth in US crude oil exports has slowed significantly from its pace from 2013 to 2015, when annual US crude oil production grew rapidly.

Following the removal of restrictions on US crude oil exports in December 2015, the United States exported crude oil to 26 different countries in 2016, compared with 10 countries the previous year. In 2015, 92% of US crude oil exports went to Canada, which was exempt from US crude oil export restrictions. After restrictions were lifted, Canada remained the top destination but received only 58% of US crude exports in 2016.

Aside from Canada, European destinations such as the Netherlands, Italy, United Kingdom, and France rank high on the list of US crude oil export destinations. The second-largest regional destination is Asia, including China, Korea, Singapore, and Japan. In 2016, the United States exported to eight different Central and South American destinations, including Curacao, Colombia, and Peru.

Some nations listed as receiving crude oil exports from the United States in EIA export statistics, such as the Marshall Islands, Bahamas, Panama, and Liberia, are unlikely to be actual final destinations. Ports in the United States are not deep or wide enough to allow safe navigation and loading of the largest and most economic ships such as Very Large Crude Carriers to transport crude oil. Instead, US crude oil is exported on smaller vessels and is then transferred to larger vessels in deeper waters outside of port.

For full details visit www.eia.gov

3rd April 2017