US crude exports in July edge down from record high

NEW YORK: US crude oil exports eased slightly to 2.1 million barrels per day (bpd) in July from a record 2.2 million bpd in June, foreign trade data from the US Census Bureau showed on Wednesday.

The United States lifted a 40-year ban on crude oil exports in late 2015 and since then tankers filled with US oil have landed in more than 30 countries.

In July, 18 countries purchased US crude, the data showed.

The United States exported crude to Peru and Dominican Republic for the first time in over a year in July, the data showed.

Shipments to Peru were about 26,000 bpd while Dominican Republic purchased about 16,000 bpd of US crude. Both countries received crude from the US for the first time since May last year.

Meanwhile, China, the biggest buyer in June, dropped to second place in July, behind Canada.

Crude exports to Canada were 420,000 bpd while shipments to China fell to about 384,000 bpd in July from a record 510,000 bpd in June.

Still, other top buyers were from Asia, including Taiwan, which imported a record at about 143,000 bpd, and Japan which bought a record 89,000 bpd.

India and Thailand purchased 102,000 bpd and 78,000 bpd respectively.

Top European buyers were Britain, which bought 142,000 bpd and the Netherlands, which imported 75,000 bpd.

Exports to United Arab Emirates were 84,000 bpd and exports to France were 51,000, while Spain purchased 49,000 bpd of US crude.