US oil in Europe… Reuters

Olga Yagova and Devika Krishna Kumasi, Reuters, have an excellent piece, here, discussing U.S. crude oil exports into Europe:

“Now shipments of U.S. crude into Europe have just hit a new record. January imports were 630,000 barrels per day, still – behind Russia and Iraq but above other OPEC producers including Nigeria and Libya.

Higher U.S. crude exports have been helped by lower supplies of Iranian and Venezuelan crude, which Washington has put under sanctions, scaring buyers across the world.

In the whole of 2018, U.S. supplies to Europe doubled to 430,000 bpd, according to Refinitiv Eikon flows data. That represented 6 percent of overall imports or equal to the levels of Iranian oil imports to Europe before the United States imposed fresh sanctions on Tehran.”