Economics
OPEC's Oil Exports to U.S. Fall to Five-Year Low in January
- Venezuelan shipments may not ever discharge in American ports
- Less oil on the water points to tightening market: Kpler
This article is for subscribers only.
Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports.
Crude shipments to the U.S. from OPEC and its partners fell to 1.41 million barrels a day in January, the lowest in five years, according to data from cargo-tracking and intelligence company Kpler. Shrinking Iraqi imports and deep output cuts by Saudi Arabia fueled the decline.