US crude exports in March fell from a record low latest news


Foreign trade data released by the United States Census Bureau showed on Tuesday that the country’s exports of crude oil fell to about 3.56 million barrels per day in March, from a record monthly high of 3.71 million barrels per day in February.

US crude exports have jumped since an export ban was lifted in late 2015, and shipments reached more than 30 countries in March.

But exports are expected to fall over April and May, as the Corona Virus pandemic reduced global oil demand by 30 percent due to travel restrictions, while a short price war between Saudi Arabia and Russia put pressure on crude prices.


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