HOUSTON (Bloomberg) -- The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down.
You name it -- crude oil, gasoline, diesel, propane and even liquefied natural gas -- all were shipped abroad at a record pace. While the surge comes many years after the shale boom started, it can be traced straight back to the growth of horizontal drilling and fracing. U.S. exports are poised to expand even further, as the fear of peak oil supply has all but vanished just as a new demand threat emerges in the form of electric vehicles.
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Headline crude prices for the week beginning 10 February 2020 – Brent: US$53/b; WTI: US$49/b
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