A Flood of U.S. Oil Exports Is Coming

• What started as an American phenomenon is now being felt around the world as U.S. oil exports surge to levels unthinkable only a few years ago.
• American oil exports stepped up a gear last year, jumping more than 70% to just over 2 million barrels a day, according to government data. Over the past four weeks, U.S. oil exports have averaged more than 3 million barrels a day.
• Oil traders and shale executives believe U.S. crude exports are set to reach 5 million barrels a day by late 2020, up another 70% from current levels. If the U.S. hits that target, America will be exporting, on a gross basis, more  crude  than every country in OPEC except Saudi Arabia.
• “This will shake up international oil and gas trade flows, with profound implications for geopolitics”, said Faith Birol, the head of the International Energy Agency.

 (Source: Bloomberg)