Hal Kempfer on LinkedIn: Why Red Sea chaos is driving oil buyers ’into the arms of U.S. shale…
He expects U.S. petroleum exports to sustain the 5 million plus barrel-per-day level in the coming weeks, with the “geopolitical situation seemingly heating up…
Hal Kempfer
"He expects U.S. petroleum exports to sustain the 5 million plus barrel-per-day level in the coming weeks, with the 'geopolitical situation seemingly heating up every day.'
'Ironically, the chaos in the Middle East is driving international crude-oil customers into the arms of the U.S. shale producers,' said Yawger. 'There is a very good chance U.S. exports break the all-time record in coming weeks, just in time for refiners to pull back on the run rate.'
Weekly U.S. crude-oil exports reached a record 5.629 million barrels a day in the week ended Feb. 24, 2023, based on EIA data going back to February 1991."
