Sunday, July 6, 2025
Oil rebounds though outlook remains clouded by oversupply- oil and gas 360

Crude inventories plunge as U.S. emerges as net petroleum exporter

Houston Chronicle The nation’s stockpiles of commercial crude oil plunged by nearly 5 million barrels last week as the United States continues to emerge as a net petroleum exporter at the end of 2019. The U.S. is churning out record-high crude oil production at an estimated 12.9 million barrels a day and exporting nearly a quarter of that crude daily.

U.S. Gulf Coast Officially Becomes Net Crude Oil Exporter in Late 2018

Increasing production and mismatch between crude oil type and refinery configuration allows for more of the increasing U.S. crude oil production to be exported The Gulf Coast is the first region to export more crude oil than it imports since the West Coast saw small net exports in early 1990s U.S. crude oil production boomed in 2018 and so did