US exports of crude and petroleum products exceeded imports by 89,000 barrels a day in September, making the country a net petroleum exporter for the first time since 1949, Energy Information Administration data show. "The US return to being a net exporter serves to remind how the oil industry can deliver surprises -- in this case, the shale oil revolution -- that upend global oil prices, production, and trade flows," said Bob McNally, president of Rapidan Energy Group.
US achieves net oil exporter status for 1st time in decades
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.