The U.S. continues to fuel the world.
Refined product exports form America jumped my more than a million barrels a day to a fresh record last week, as refineries returned from seasonal maintenance and churned out more gasoline, diesel and other fuels.
With crude exports also jumping, total shipments hit a record of 8.71 million barrels a day, the U.S. Energy Information Administration said in its weekly inventory report. Weekly shipments of distillate fuels such as diesel jumped the most ever, while “other oils” surged to a 10-month high.
The jump in exports may keep U.S. product stockpiles from growing into an oversupply. Refineries operated at 95.6 percent of capacity in the week ended Nov. 23, the highest ever for this time of year.