US exports of crude oil reached record levels of 3.6 million barrels per day (bpd) in the week ending 15 February ending 15 February. The figure represented growth of 1.2 million bpd and was possible due to the US's record 12 million bpd output during the week ending 15 February, as the nation's shale industry continues to grow. Meanwhile, the US crude inventory rose to its highest level in over a year because of record high production and seasonal maintenance, according to the Energy Information Administration. Shale drilling has enabled the US to become world’s largest oil producer ahead of Saudi Arabia and Russia.
US exports of crude oil reached record levels of 3.6 million barrels per day (bpd) in the week ending 15 February. The figure represented growth of 1.2 million bpd and was possible due to the US's record 12 million bpd output during the week, as the nation's shale industry continues to grow. Meanwhile, the US crude inventory rose to its highest level in over a year because of record high production and seasonal maintenance, according to the Energy Information Administration. Shale drilling has enabled the US to become world’s largest oil producer ahead of Saudi Arabia and Russia.