It is the first time for the last 20 years that the USA acts as a net fuel exporter, the Financial Times informs referring to the data published by the US Energy Ministry.
In February 2011 net exports of petroleum derivatives constituted 54 000 barrels per day. The first time exports exceeded imports was registered in November 2010, yet this tendency was not confirmed until the publication of fresh data for February.
The US exports of petroleum products grew in the first quarter of 2011 by one fourth as compared to the same period of the last year and constituted 2.5 mln. barrels per day. Imports shrank by 14% and equaled 2.2 mln. barrels.
For many years the USA has been exporting not only petroleum products but also oil itself. Oil consumption on the US domestic market is now 19 mln. barrels per day which is 2 mln. less than it was before the recession began.
The US imports started to decline at the end of 2005 when the indicator reached its high for 20 years – 3.9 mln. barrels per day. The US mainly exports its fuel to Latin America where oil sector fails to meet growing demand on the domestic market.
