US Oil Exports Exceeded the Vast Majority of OPEC Members

According to data released by the U.S. Energy Information Administration, during the week ending June 22, US crude oil exports were 3 million barrels per day, compared with 528,000 barrels per day last year. In the four weeks ending June 22, the average US crude oil export volume was 2.28 million barrels per day, compared with 581,000 barrels per day last year. Last week, the U.S. exported more crude oil than the 12 member countries of the 14 OPEC member countries. Only Saudi Arabia and Iraq exported more than 3 million barrels per day of crude oil to the international market, and the export volume of other member countries did not reach this level. The previous US export record was set in the second week of May this year, as much as 2.566 million barrels per day. In 2017, US crude oil exports exceeded 2 million barrels per day in just one week, but this year it has exceeded 2 million barrels per day for eight weeks, including 3 million barrels per day last week.