AlwaysFree: US Oil Exports Plunge Nearly 1.2 Million Bpd: EIA

Data from the US Energy Information Administration showed that the US exported 2.265 million bpd of crude oil in the week ended October 30. The figure represents a week-on-week fall of 1.195 million bpd, the sharpest since the week ended January 3, when exports plummeted by almost 1.4 million bpd. US crude exports four-week moving average also fell to 2.724 million bpd, the weakest since June 19, when the four-week moving average stood at 2.713 million bpd. Compared to the same week last year, the four-week moving average is about 700,000 bpd lower. Analysts expected US crude exports to continue declining in 2021 as producers cut spending and pumped fewer barrels of oil.