Crude oil exports reached 78.7 million barrels, according to the commission, or 81.8 million barrels, according to data from the Energy Information Administration. ADADSo that means the deal should result in a huge jump in U.S. oil and gas export to China. U.S. natural gas feedstock prices will have to stay low enough to offset that shipping disadvantage. In the oil sector, U.S. suppliers met just 3% of China’s crude oil import requirements in 2018, giving them plenty of room for growth. ADADOne area where U.S. producers may face fewer obstacles is in the natural gas liquids that form the basis of most petrochemical processes.

Source: Washington Post January 19, 2020 08:03 UTC