U.S. Petroleum Exports Climb to Record as Crude Output Grows
- Exports hit record high in January a year after ban lift
- U.S. crude production rebounded from three-month low
A boat passes a refinery standing along the Houston Ship Channel in Houston, Texas, on Jan. 30, 2014.
Photographer: Scott Dalton/BloombergThis article is for subscribers only.
When it comes to petroleum, the U.S. is the land of plenty.
The year 2017 started off with a bang for American oil companies as total crude and petroleum products exports rose to a record 5.69 million barrels a day in January, government data show. A surplus of fuels means exports are available all the way down the hydrocarbon chain from crude to propane as resilient U.S. shale producers are learning to grow their output with oil dancing around the $50-a-barrel mark.