U.S. crude oil exports are increasing and reaching more destinations

The number of countries receiving exported U.S. crude oil has risen since the removal of restrictions on exporting U.S. crude oil in December 2015. U.S. crude oil exports have occurred despite relatively small price spreads between international crude oils and domestic crude oils, as well as other factors that should reduce crude oil exports, such as falling U.S. crude oil production and added cargo export costs. More »