The U.S. exported more oil and refined products than it imported for the second time ever but weather may have affected the flow of oil into the country.
The U.S. is on the road to energy independence, exporting more oil and refined products than it imported last week for the second time ever. However, weather may have been a factor behind the fact that the U.S. exports outpaced imports, creating a deficit of 162,000 barrels. In government data from last week, there was a large drop in oil imports coming into the country, while exports or crude and other products remained high.
6 million barrels per day, set the week earlier. The decrease in imports added to the surprise decline in crude inventories, which fell by 8.65 million barrels a day, versus an expected build of 3 million barrels, according to the Energy Information Administration. The U.S. exported 4.8 million barrels of refined products, like jet fuel, diesel and gasoline. "There's no doubt that crude oil exports were still at a very high level.
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