The United States hasn’t been a net exporter of oil and oil products since World War II. Now, it is on course to become a net exporter next year, with oil and product exports already hitting record highs of 3.4 million bpd and 3 million bpd respectively. Meanwhile, Reuters reports, citing official data from the Energy Department, imports of crude oil are on a decline, falling to just 1.1 million barrels daily in November. That’s compared with some 7 million bpd in crude imports five years ago. In fairness, the export-import balance…
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