U.S. crude oil exports continue to grow in H1

HOUSTON, Oct. 3 (Xinhua) -- The U.S. Energy Information Administration (EIA) reported on Thursday that the exports of crude oil of the United States continued to rise in the first half of 2019, while the exports to China fell dramatically.

U.S. exports of crude oil rose to average 2.9 million barrels per day (b/d) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018.

EIA's data also showed that U.S. crude oil exports set a record-high monthly average in June 2019 at 3.2 million b/d.

Meanwhile, the United States is still one of the world's largest importers of crude oil. In the first half of 2019, U.S. imports of crude oil less exports (net imports) averaged 4.2 million b/d compared with 6.1 million b/d in the first half of 2018.

According to EIA, increases in U.S. domestic crude oil production have resulted in reduced imports and increased exports.

Canada remained the top destination for U.S. crude oil exports, but volumes exported to Canada did not change much between the first halves of 2018 and 2019. By contrast, U.S. crude oil exports to most other major destinations have increased.

The top regional destination for U.S. crude oil exports was Asia and Oceania at 1.3 million b/d in the first half of 2019. U.S. crude oil exports to the region collectively increased by 472,000 b/d (58 percent) compared with the same period in 2018.

However, according to EIA, China has been an exception to this regional trend. U.S. crude oil exports to China in the first half of 2019 averaged 248,000 b/d, 64 percent less than the same period last year.