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Petroleum Exports Surge By 27% In Two Years, U.S. Agency Says

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By Darren Barbee, Hart Energy
January 31, 2014

Petroleum exports climbed for the week of Jan. 24 to 3.661 million barrels per day, a 2.2% increase on the week and about 27% higher than January 2012, according to the U.S. Energy Information Administration (EIA).

U.S. oil production was essentially flat at 8.044 million barrels per day. The EIA did not change its estimate for Lower 48 production, which was indicated at 7.509 million barrels per day the previous week, said Richard Hastings, a macro strategist with Global Hunter Securities LLC.

The export-to-production ratio increased favorably, hitting 45.51% last ...


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