U.S. Crude Oil Exports To Peak In 2024

U.S. crude oil exports are set to grow this year by the smallest margin after a decade of rapid growth.    Crude exports from U.S. ports have averaged 4.2 million barrels per day so far this year, up a mere 3.5% Y/Y compared to a robust 13.5% growth in 2023. This year’s growth clip is the lowest since 2015, when the country lifted a 40-year federal ban on the export of domestic crude.    “U.S. crude exports are plateauing due to a combination of slowing supply growth and easing demand – particularly from Asia…