The United States is increasing the amount of crude oil it exports, the federal government reports. From the Energy Information Administration:
"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.
"Based on the latest available data, U.S. crude oil exports averaged 501,000 barrels per day (b/d) in the first five months of 2016, 43,000 b/d (9%) more than the full-year 2015 daily average."
Read the full report here.