Tag: U.S. oil exports

More US oil shipments destined for Europe despite record oversupply

North Sea crudes like Forties and Ekofisk became less cost-effective and dropped sharply due to strengthening dated Brent price Congress late last year abolished the crude export ban and with the US oil inventories reaching all-time highs, exports to Europe and the Mediterranean have steadily increased. Europe remains an attractive destination for US crude because of higher […]