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US crude exports hit record 662,000 b/d in May -Census Bureau

US crude exports

US crude exports were up to a record 662,000 b/d in May, an increase of 71,000 b/d in April. photo.

Canada accounted for most US crude exports

NEW YORK, July 6 (Reuters) – US crude exports rose to a record 662,000 barrels per day in May from 591,000 bpd in April, foreign trade data from the U.S. Census Bureau showed on Wednesday.
Canada accounted for the most U.S. crude exports at 308,000 b/d, followed by the Netherlands at 110,000 b/d and Curacao at 67,000 b/d. Other prominent destinations were Britain at 36,000 b/d, Japan at 29,000 b/d and Italy at 23,000 b/d.
The total export figure was the highest on record since at least 1920, according to U.S. government data.
U.S. oil exports have risen since a decades-long ban on them was lifted in January. During that time, a number of merchants, traders, producers and even refiners have moved crude to Latin America, Europe, Asia and other locations.
The Census Bureau publishes its oil export data weeks before the closely watched U.S. Energy Information Administration trade figures. The EIA, which bases its numbers on the Census data, will release its monthly crude figures at the end of July.

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