L
LequteMan
Guest
According to a report from Bloomberg, the United States is fast becoming a big importer of oil again.
In the three months since the U.S. lifted its 40-year ban on crude oil exports, U.S. crude shipments to foreign buyers have stalled. At the same time, imports into the U.S. jumped to a three-year high in what looks to be a reversal of a yearslong decline in the amount of foreign crude brought into the American market.
According to the report, refineries are choosing to buy imports instead of West Texas Intermediate, an oil variant produced in the US. One of the biggest winners is Nigeria, which is regaining lost market share. Imports from Nigeria surged to 559,000 barrels a day in mid-March, compared with an average of 52,000 for all of 2015 (that's a 975% increase).
Read full story
In the three months since the U.S. lifted its 40-year ban on crude oil exports, U.S. crude shipments to foreign buyers have stalled. At the same time, imports into the U.S. jumped to a three-year high in what looks to be a reversal of a yearslong decline in the amount of foreign crude brought into the American market.
According to the report, refineries are choosing to buy imports instead of West Texas Intermediate, an oil variant produced in the US. One of the biggest winners is Nigeria, which is regaining lost market share. Imports from Nigeria surged to 559,000 barrels a day in mid-March, compared with an average of 52,000 for all of 2015 (that's a 975% increase).
Read full story
Attachments
Last edited:
