- U.S. oil exports hit a 57-year high in July, averaging 401K bbl/day and up from 396K bbl/day in June and nearly quadruple the 104K exported in July last year, according to the Energy Information Administration.
- It was the second month in a row that exports were the highest since March 1957, according to EIA data going back to 1920.
- Most of July's crude-oil exports (373K bbl/day) went to Canada, while 14K bbl/day were exported to Italy, 12K went to Switzerland and 3K to Singapore; the exports to Italy, Switzerland and Singapore were shipments of foreign oil that had previously been imported to the U.S.
- U.S. oil imports have fallen as domestic production has climbed: The U.S. imported 7.6M bbl/day of crude oil in July, down from 8.1M a year ago, the EIA says.
- ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM