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In recent years, US crude oil exports have steadily increased

/ Friday, 30 August 2024 /

According to foreign media reports,after steadily increasing in the past few years,the growth rate of US crude oil exports is expected to slow down this year.The current average crude oil export volume of the United States is 4.2 million barrels per day,a year-on-year increase of 3.5%,which is the smallest growth rate since 2015.Growth of 13.5%in 2023 compared to 2022.US crude oil exports have been increasing every year,except for 2021.Due to shale oil producers’emphasis on shareholder returns and restrictions on capital investment,growth in 2024 may be limited to only 2.3%.

Affected by factors such as Chevron’s launch of the Anchor project in the Gulf of Mexico,US offshore crude oil production is expected to increase slightly in 2024.At the same time,data from US energy consulting firm Kpler shows that global oil demand will slow down this year,with US crude oil exports to China currently down by more than 30%,and crude oil exports to Singapore and Europe also declining across the board.

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