Seventeen countries now receive long-banned American crude exports.
U.S. crude oil is reaching all corners of the world, after a 40-year ban on exports was lifted at the end of last year.
More
than 87 million barrels of crude and condensate have been shipped to 17
countries in the first half of 2016, based on Bloomberg calculations
from Census Bureau data. Most has gone to Canada, which received 53.5
million barrels, followed by Curacao, which took 8.68 million, and the
Netherlands with 6 million. Canada was already a customer, having been
largely exempt from the limits.
The
U.S. Congress and President Barack Obama agreed in December to end the
trade restrictions, which were established after OPEC oil embargoes that
crippled U.S. supplies in the 1970s.
Other buyers include the U.K, Japan and even the Marshall Islands, according to U.S. Census Bureau data.
"The
data for shipments to the Marshall Islands could have been a mistake,
those were probably tankers with the Marshall Islands flag,” said John
Auers, executive vice president of Turner Mason & Co., a
Dallas-based consulting firm. “It’s possible that those cargoes were
headed for Asia."
There are still many countries that have yet to
buy any American oil this year. India, South Korea and Germany are among
the top crude importers in the world, according to data from the Joint
Organizations Data Initiative (JODI). Yet none has received U.S. crude
after the ban was lifted.
—With assistance from Dave Merrill and Alex Nussbaum.
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