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EIA: US crude oil exports reached nearly 3 million bpd in 2019

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Oilfield Technology,

US crude oil exports averaged 2.98 million bpd in 2019, up 45% (930 000 bpd) from 2018, according to the US Energy Information Administration (EIA). This growth in US crude oil exports was driven by increasing US crude oil production, expanding domestic infrastructure, and increasing global demand for light, low-sulfur crude oils.

EIA: US crude oil exports reached nearly 3 million bpd in 2019

The number of destinations for US crude oil exports also increased from 41 to 44. Canada received the largest share of US crude oil exports at 459 000 bpd (15%), followed by South Korea at 426 000 bpd (14%).

Conversely, US crude oil exports to China, the third-largest export destination in 2018, fell by nearly 100 000 bpd to average 133 000 bpd in 2019, dropping China to the seventh-largest export destination in 2019.

In the first half of 2018, the US exported 389 000 bpd of crude oil to China, which made China the top destination for U.S. crude oil exports during that period. However, in the summer of 2018, trade negotiations between the United States and China and unfavourable prices led China to reduce imports of US crude oil to an average of just 77,000 bpd.

In 2019, the reduction of US exports to China continued; US crude oil exports to China averaged only 133 000 bpd in 2019 compared with 232 000 bpd in full-year 2018. Although US exports to China declined in 2019, US crude oil exports to other destinations increased, most notably to South Korea, the Netherlands, and India.

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