As a result of new EU sanctions, the U.S. exported a record 11.8 million barrels per day of oil and oil products in the first week of December 2022, as reported by the U.S. Energy Information Administration.
With Russian crude oil imports fully banned, there is now huge demand for American oil in Europe. American oil exports to the European market are up to a record 1.5 million barrels per day, which is more than 10 percent of total volumes.
Sean Strawbridge, CEO at Port of Corpus Christi, said, “In these times of uncertainty, moving America’s energy to other U.S. demand centers and our overseas allies and trading partners has never been more critical for our economic and national security.”