April 25, 2026
US Exports of Crude and Petroleum Products Hit Record Highs
The global energy climate may shift once again after scheduled peace talks between the United States and Iran collapsed.
TL;DR
- U.S. exports of crude and petroleum products reached a record 12.9 million barrels a day last week.
- U.S. liquefied natural gas (LNG) net exports are predicted to grow 18 percent this year and another 10 percent in 2027.
- The increased demand is a response to supply disruptions in the Strait of Hormuz.
- The Strait of Hormuz previously transported about one-fifth of the world's oil and gas.
- Tensions between the U.S., Israel, and Iran led to the closure of the Strait of Hormuz.