Commodities

U.S. oil and petroleum companies set record for exports

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U.S. oil and petroleum companies exported more than 11 million barrels of oil and refined products a day in the settlement week that ended Wednesday, a record high since February 1991, Bloomberg reported, citing U.S. Department of Energy data.

Oil imports and exports have always been an important part of the U.S. economy. Overseas diesel shipments jumped 20% and oil exports exceeded 4 million bpd for the second straight week, the first time since 2015.

The U.S. is boosting fuel supplies amid an energy crisis caused by declining sales of Russian oil and gas. Europe is the main destination for U.S. energy exports.

Earlier, we reported that grain futures are rising in price.

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