U.S. crude oil export gains slow as output, global demand turn tepid

U.S. crude oil export gains should plateau in 2024 after years of strong growth, with domestic output expected to increase by the smallest amount since the pandemic at a time when global oil demand remains sluggish. Crude oil exports from U.S. ports averaged about 4.2 million barrels per day so far this year, according to U.S. government data. That was up 3.5 per cent from a year earlier, or the lowest percentage increase since 2015, when the U.S. exported its first cargo of domestic crude oil after a 40-year federal ban on export of domestic crude ended. Last year, exports…