WASHINGTON, Oct. 23 (UPI) -- The United States exported more crude oil than it has in more than 50 years, analysis from the U.S. Energy Information Administration finds.
EIA in its weekly petroleum status report said the United States exported 401,000 barrels of oil per day in July, the latest full month for which data are available.
U.S. crude oil exports are restricted under legislation enacted in response to the embargo from Arab members of the Organization of Petroleum Exporting Countries in the 1970s.
Some exports are permitted from Alaska's Cook Inlet, to Canada for domestic consumption there and in other case-by-case scenarios. EIA said some of the oil exports include Canadian crude oil exported to the United States and then re-exported.
"Typically, crude exports are sourced domestically and are sent only to Canada," the Wednesday report from EIA found. "However, since April, crude exports have included modest amounts of Canadian-produced barrels that were moved through the United States and re-exported to Switzerland, Spain, Italy, and Singapore."
Exports for July were the highest since 1957 and the second highest since EIA started keeping records in 1920.
Supporters of easing export restrictions argue it would make energy cheaper for U.S. consumers, though those in the refining sector said it would cost more to purchase U.S.-sourced crude oil.
