US crude oil exports reach a record high

US crude oil exports reached 5.2 million barrels per day, an increase of 1 million barrels per day compared with last week. The United States also exported 7.5 million barrels per day of refined products (notably petrol and diesel). The rise in export levels is having an impact on the price of petroleum products in the United States. The price of petrol has risen by 25% since the start of the war. If the war drags on, the US government may be tempted to limit exports in order to ease pressure on prices in the domestic market. Such a decision would trigger a further rise in oil prices on international markets.