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U.S. Monthly Oil Shipments to Europe Climb to Highest Since 2016

  • Crude exports to Europe totaled 48.8 million barrels in April
  • Supply options for Europe have shriveled up amid war
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Global Natural Gas Prices Will Fall, Citi’s Morse Says

The U.S. is shipping the largest amount of crude oil to Europe since Washington ended its ban on exports more than six years ago as buyers seek alternatives to Russian supplies. 

In April, U.S. producers exported nearly 50 million barrels of crude to European buyers from major terminals in Texas and Louisiana, according to ship tracking data compiled by Bloomberg. That’s nearly half of what was sent overseas last month from the Gulf Coast, the main U.S. export hub.