U.S. is a Net Oil Exporter for the First Time Since the 1940s!

The U.S. became a net exporter of crude oil and refined petroleum products in September, the first full month it’s done so since the 1940s, according to the Energy Information Administration.

The top oil producer and consumer exported 89,000 more barrels of crude oil and refined petroleum products a day than it imported in September, the first full month of a positive oil trade balance since the 1940s, the Energy Information Administration said Friday. Imports exceeded exports by 12m barrels a day a decade ago.

https://www.ft.com/content/9cbba7b0-12dd-11ea-a7e6-62bf4f9e548a?utm_source=morning_brew

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One reason price could be capped in 2020 and maybe bounce off the tops