Daily News | US oil export booming

Although we don’t have the information confirmed by companies themselves, it seems that the US oil export is booming. According to Reuters, tankers are leaving in droves from Texas and Louisiana ports carrying record levels of crude. It will be a big test for the existing infrastructure of transport, especially having in mind the recent record of 2 million barrels a day. As mentioned, we cannot say exactly how much oil there is, but this US oil export boom will definitely require certain improvements in infrastructure. Also, the total American crude production will probably add 800 000 to 1 million bpd annually, so you should definitely keep an eye on the situation. Another piece of news from the US once again has to do with Trump’s tax reform. The National Association of Home Builders will be aggressive towards this act which could affect the use of home mortgage deductions.

On the political scene there have been some new developments in regards to the situation with North Korea. General Joseph Dunford, chairman of the U.S. Joint Chiefs of Staff, met with South Korean and Japanese partners at the U.S. Pacific Command headquarters in Hawaii. All of these countries were threatened by the North Korean leader recently, so they called him to quell his “irresponsible provocations”. We await the response which will surely come if Kim Jong-Un’s past behavior is anything to go by. Keep following our news for more information.

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Author: Max Rothstein

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