US may export more oil in 2017 than 4 OPEC nations produce – BBG

According to four analysts surveyed by Bloomberg, the US crude exports are expected to surpass production in four OPEC nations in 2017 and could grow even more if President Trump delivers on his campaign promise to ease drilling restrictions and maximize output.

Key findings of the survey:

The US could sell as much as 800,000 bpd of crude overseas this year

That’s more than OPEC producers Libya, Qatar, Ecuador and Gabon each pumped in December. 

Bloomberg reports, “U.S. output will rebound to more than 9 million barrels a day in 2017 after sliding 5.6 percent to 8.87 million in 2016, the EIA estimates. And since restrictions on U.S. crude exports were lifted in late 2015, domestic producers are free to seek buyers in Europe, Asia and Latin America, which are on the lookout for alternate suppliers after OPEC and non-OPEC producers agreed to trim 2017 output.”