US shale producers export record 1 million barrels of oil per day to world market as OPEC cuts back

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Simon S. Milne

Simon S. Milne

CEO at Solent Freight Services LTD

Published Feb 23, 2017

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"We're raising our output and it has more than a parochial impact. It's not so much that it makes the U.S. inventories unwieldy. It's that it adds to the global inventory," said Tom Kloza, head of global energy research at Oil Price Information Service. "That really is the concern in the global oil market. We tend to import the medium and heavy [grades of crude]. I'm sure most of the exports are light sweet oil."

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