U.S. Oil Exports Hit Record High

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U.S. exports of crude oil and petroleum products hit an all-time high of 11.8 million barrels per day (bpd) last week, The Maritime Executive reports.

In the week to November 25, a total of 11.776 million bpd of U.S. crude and petroleum were exported, the latest data from the U.S. Energy Information Administration showed.

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According to the EIA’s data, weekly American crude exports have also set records multiple times in recent weeks.

The United States has ramped up exports of crude as the EU looks to non-Russian supply due to the embargo. In fact, U.S. exports of crude and petroleum products have been steadily rising this year, especially after the Russian invasion of Ukraine upended energy trade flows and buyers started shunning Russian products or began preparations to purchase non-Russian supplies.

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The Port of Corpus Christi, Texas, for example, has set records this year in tonnage exported, largely due to crude oil exports. In the third quarter, the port beat its previous record from the second quarter, driven in large part by record exports of crude oil.

“In these times of uncertainty, moving America’s energy to other U.S. demand centers and our overseas allies and trading partners has never been more critical for our economic and national security,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.

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