17 Countries Are Now Buying Oil From The U.S.: Here Is What You Need To Know

The U.S. government lifted a 40-year ban on exporting crude oil at the end of last year. Today, 17 countries have collectively bought more than 87 million barrels of crude and condensate in the first half of 2016, according to a report by
Bloomberg.

Bloomberg noted that 53.5 million barrels were delivered to Canada — the sector's biggest client by a large margin. Ranking second is the Caribbean island Curacao at 8.68 million barrels, followed by the Netherlands with 6 million barrels and the United Kingdom at 2.8 million barrels.

Other buyers include Japan, Israel, China and several other European nations.

Related Link: Report: Saudi Arabia Could Boost Its Oil Output Even Higher

Bloomberg also added that there are many other countries that hope to receive American oil this year, including India, South Korea and Germany. In fact, these countries are among some of the largest crude importers in the world.

Interestingly enough, U.S. Census Bureau data show oil shipments were destined to the Marshall Islands. However, Bloomberg cited John Auers, an executive at a Dallas-based consulting firm named Turner Mason & Co., who said that the data for shipments to the small islands "could have been a mistake" and was likely tankers with the Marshall Islands flag, which were likely "headed for Asia."

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Posted In: NewsEmerging MarketsEurozoneCommoditiesMarketsMediaBloombergJohn AuersOilUS Oil Exports
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