Report: U.S. Oil Imports, Exports Decline in Early June
(MENAFN) U.S. crude oil imports and exports both declined in the week ending June 6, according to a report issued Wednesday by the U.S. Energy Information Administration (EIA).
The Weekly Petroleum Status Report revealed that imports of U.S. crude averaged 6.176 million barrels per day (b/d) last week—marking a drop of 170,000 b/d compared to the prior week. Meanwhile, crude oil exports also fell sharply to 3.286 million b/d, a decrease of 621,000 b/d week-over-week.
Over the last month, crude imports have averaged approximately 6.240 million b/d, representing a 13.3% year-over-year decline for the same four-week stretch. During that same timeframe, U.S. exports averaged about 3.750 million b/d, down 9.9% from the equivalent period last year, the report noted.
The United States has remained a key player in global oil production in recent years, largely driven by the expansion of shale oil output.
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