Daily Energy Report
US crude exports are light, China oil demand outlook, Russian bank sanctions, “Drill, baby… slowly,” US energy independence, N Korea’s Russian imports, Nigerian CNG, Nord Stream 2 bid, and more.
Chart of the Day: Most of US Crude Exports Are Light Sweet
Summary
Figure (1) shows trends in US crude exports by grade since the beginning of 2022. While crude exports stopped growing, most US crude exports are light-sweet. This fact has implications for Trump’s “drill baby drill” policy as explained below.