While the global oil market preoccupied itself with tracking what OPEC+ might or might not do to address supply-and-demand concerns,a rather significant historical moment was reported in the U.S.Indeed,the U.S.Energy Information Administration(EIA)reported on Nov.13,in its monthly Short-Term Energy Outlook,that for the first time in 70 years,the U.S.during September exported more crude oil and refined products than it imported.Actually,the timeframe might be more than 70 years,since the U.S.federal government has only been tracking such data since 1949.Based on preliminary data and model estimates,EIA estimates that the U.S.exported 140,000 bpd more of crude oil and petroleum products in September than it imported.Furthermore,EIA projects that total exports exceeded imports by 550,000 bpd in October.
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