US Has First Full Month as Net Oil Exporter for First Time in 70 Years – By Tom Ozimek (Epoch Times) / Dec 1 2019
The United States has hit another milestone in the Trump administration’s quest for energy independence, becoming a net exporter of crude and petroleum products for a full month for the first time in 70 years, according to government data.
U.S. monthly oil exports surpassed imports by 89,000 barrels per day in September, making the country a net exporter on a monthly basis for the first time since the government started tracking relevant data in 1949, according to figures published by the Energy Information Administration (EIA).
US net imports of crude oil and other petroleum products. (EIA)
The EIA data shows that U.S. oil exports in September rose 18 percent year-over-year to about 8.76 million barrels per day, while imports over the same period fell 12 percent to about 8.67 million barrels.
About a decade ago, the U.S. ran a negative oil trade balance of more than 13 million barrels per day.
An oil well in the Permian Basin in Garden City, Tex., on Feb. 5, 2015. (Spencer Platt/Getty Images)