API: US petroleum net imports increased strongly on falling exports

The US has reached a new record for crude oil production of 10.8 million b/d over the past 2 months, but petroleum exports decreased by 1.3 million b/d since June, according to a recent industry outlook for the third quarter from the American Petroleum Institute. The nation’s overall petroleum trade balance went from net imports of 2.9 million b/d in June to 4.54 million b/d in August.


Source: News