U.S. oil imports down, exports up last week

Source: Xinhua | 2019-07-11

U.S. crude oil imports decreased while exports increased during the week ending July 5, the U.S. Energy Information Administration (EIA) said Wednesday.
U.S. crude oil imports averaged 7.3 million barrels per day (b/d) last week, down by 284,000 b/d from the previous week, while crude oil exports averaged about 3 million b/d, up by about 58,000 b/d from the previous week, according to the Weekly Petroleum Status Report.
Over the past four weeks, crude oil imports averaged about 7.3 million b/d, down by 1.018 million b/d year on year, while crude oil exports averaged about 3.3 million b/d, up by about 874,000 b/d year on year.
In its latest Short-Term Energy Outlook (STEO) released Tuesday, the U.S. crude oil and petroleum product net imports will average 0.6 million b/d in 2019, down from an average of 2.3 million b/d in 2018. EIA forecast the United States will be a net exporter of crude oil and petroleum products at a rate of 0.1 million b/d by the fourth quarter of 2019 and by an average of 0.5 million b/d in 2020.