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US achieves net oil exporter status for 1st time in decades

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.

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