U.S. oil exports climbed 12 percent last year even as domestic output dropped, bringing the nation’s overseas shipments to an average of more than half a million barrels a day, the Energy Department said Wednesday.
Exporters sent crude shipments to more than two dozen countries in South America, Europe, Africa and Asia after the federal government lifted its longstanding oil export restrictions in December 2015.
In 2015, more than nine out of 10 exported barrels went to Canada. In 2016, that figure fell to six in 10 barrels, the Energy Information Administration said.
This year, U.S. exporters sent 38,200 barrels of oil a day to the Netherlands, the most shipped to any country except Canada, followed by Curacao, China, Italy, the United Kingdom, Korea, Singapore, Colombia and Japan.