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U.S. Oil Exports Close to Record Set in 1957

Posted October 03, 2014

Under Economic Issues, International Trade Issues

(MarketPulse)

U.S. oil exports are set to surpass a record held since 1957 as traders find ways around a four-decade ban on supplies leaving the country.

The U.S. sent 401,000 barrels a day abroad in July, 54,000 shy of the record set in March 1957, according to data compiled by the Energy Information Administration, the Energy Department’s statistical unit. While Canada accounted for 93% of the shipments, Italy, Singapore and Switzerland also took oil from U.S. ports. Read more here.