According to today’s oil price news, the United States became a net exporter of crude oil and petroleum products last month. In the last week of February, the average net import of crude oil and petroleum products was 907000 barrels / day. According to the weekly net import data of crude oil and petroleum products of the United States Energy Information Agency (EIA), this is the lowest “import” level in the EIA data since 1973.
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According to EIA data, the United States has been a net exporter of crude oil and oil products every week since the beginning of 2020, in January and February.
The EIA said at the end of last year that the US exported more crude oil and oil products than it imported in September 2019, the first time the US has become a net exporter of oil since monthly records began in 1973.
The EIA said in December 2019 that due to the surge in US crude oil production and the lifting of export restrictions in 2015, as well as the continued growth in oil product production and exports, the US crude oil and oil product exports in September 2019 were 89000 barrels / day higher than imports.
In its energy outlook 2020, released in January this year, the EIA said that the United States will become a net exporter of oil and oil products this year due to continued growth in production and weak domestic demand.
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Although it has the status of “net exporter of oil”, the United States is still a net importer of crude oil, and its crude oil import is still higher than its export.
According to the latest monthly data, the EIA said last month that in November 2019, US crude oil imports were 5.8 million barrels / day and exports were 3 million barrels / day.
In addition, the EIA points out that although the United States as a whole is a net exporter of oil at present, most other regions are still net importers of oil except the Gulf Coast region of the United States.
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