The United States nearly became a net exporter of crude oil last week for the first time since World War II, as shipments rose to a record high to meet demand from Asian and European buyers scrambling to replace West Asian supplies cut off by the Iran war.Refiners in Asia and Europe, which depend on those supplies, have bought replacement cargoes from wherever they can, leading to a sharp increase in demand for oil from the United States. However, analysts say the United States is rapidly approaching its export capacity.Net crude oil imports, or the difference between imports and exports, shrank to 66,000 barrels per day last week, the lowest level recorded in weekly data dating back to 2001, according to US government data released on Wednesday, while exports rose to 5.2 million barrels per day, the highest level in seven months.
The data showed that the United States was the last exporter of crude oil in 1943.Countries such as Greece have picked up US crude for the first time ever in recent months. About 2.4 million barrels per day, or about 47% of US exports, sailed to Europe last week, according to the Kpler tracking service. About 1.49 million barrels per day, or about 37%, went to Asia, up from 30% a year ago.This is a Reuters story
