Who's Buying Long-Constrained US Oil?
It was a move that the Wall Street Journal called "unthinkable even a few months ago." Just last December, President Obama signed a bill ending the "40-year-old ban on oil exports, a historic action that reflects political and economic shifts driven by a boom in U.S. oil drilling."
Seven months later, according to Bloomberg's reckoning, "More than 87 million barrels of crude and condensate have been shipped to 17 countries in the first half of 2016, based on...calculations from Census Bureau data. Most has gone to Canada, which received 53.5 million barrels, followed by Curacao, which took 8.68 million, and the Netherlands with 6 million."