July Sees Spike in US Crude Exports

摘要

Crude exports from the US bounced back hard in July, according to monthly data from the US Census Bureau, helping to squeeze net crude imports to their lowest point in over 35 years. The world's largest economy shipped over 3.2 million barrels per day abroad in July, up from some 2.7 million b/d in June, the Census reported. Export had been falling for four straight months before July amid the destructive effects of the Covid-19 pandemic on global demand. Crude exports also resumed their march higher from an annual perspective, with July 2020 figures almost 550,000 b/d higher than the same month last year.