US crude oil exports surged by almost 47% last year, despite the trade war with China, latest industry figures show.
Seaborne crude oil exports reached 128.4m tonnes last year versus the 87.4m tonnes exported in 2018, shipbroker Banchero Costa said.
“Crude production and exports from the US are driving shifts to the global trade patterns — incremental US exports have largely moved to Asia and Europe,” said Ralph Leszczynski, Bancosta’s head of research in Singapore.
