United States crude oil exports have surged sharply in recent weeks, coming close to historic levels as global energy markets adjust to disruptions caused by the ongoing Iran conflict.
Latest data cited from U.S. government figures showed that exports climbed to about 5.2 million barrels per day last week, the highest level recorded in seven months.
The increase reflected strong demand from Asia and Europe, where refiners are seeking alternative supplies amid reduced Middle East shipments.
The spike in exports has significantly narrowed the gap between imports and exports.
Net crude imports fell to just 66,000 barrels per day, the lowest level in weekly records dating back to 2001.
This development has placed the U.S. close to becoming a net crude exporter for the first time since the Second World War.
Analysts said the surge has been driven largely by the disruption of global supply chains linked to the Iran war, which has affected shipping routes and reduced flows through key waterways, including the Strait of Hormuz.
The conflict has forced major oil-consuming regions, particularly in Europe and Asia, to source crude from alternative suppliers, with the United States benefiting as the world’s largest oil producer.
About 2.4 million barrels per day, roughly 47 per cent of U.S. exports were shipped to Europe last week, according to vessel tracking data.
Asia accounted for around 1.49 million barrels per day, representing about 37 per cent of total exports, an increase from 30 percent the previous year.
Key buyers included countries such as the Netherlands, Japan, France, Germany, and South Korea.
In a notable development, a cargo of about 500,000 barrels was also reported en route to Turkey, marking the first such shipment in at least a year.
Despite the surge in exports, U.S. crude imports also declined by more than one million barrels per day, falling to about 5.3 million barrels per day.
However, the country continues to import significant volumes due to refinery configurations that require heavier crude grades than those produced domestically.
Market analysts noted that the disruption has widened price differentials between global crude benchmarks, making U.S. crude more competitive in international markets.
The spread between Brent and West Texas Intermediate briefly reached over $20 per barrel last month.
Physical crude prices in Europe have also spiked, with prompt delivery cargoes reportedly hitting record highs, further boosting demand for U.S. supplies.
Industry observers said U.S. exports are nearing operational limits, with pipeline and shipping constraints expected to cap further expansion.
Estimates suggested export capacity is around 6 million barrels per day, while current levels are approaching that ceiling.
The last record high for U.S. crude exports was about 5.6 million barrels per day in 2023, underscoring how close current flows are to historic peaks as global energy markets remain under pressure.
