US Exports of Crude and Petroleum Products Hit Record Highs U.S. energy exports, including crude oil and petroleum products, have reached a record high of 12.9 million barrels per day. This increase is attributed to global demand seeking to replace supply disruptions in the Strait of Hormuz. U.S. liquefied natural gas (LNG) net exports are also projected to grow significantly in the coming years.

• U.S. exports of crude and petroleum products reached a record 12.9 million barrels a day last week.
• U.S. liquefied natural gas (LNG) net exports are predicted to grow 18 percent this year and another 10 percent in 2027.
• The increased demand is a response to supply disruptions in the Strait of Hormuz.
• The Strait of Hormuz previously transported about one-fifth of the world’s oil and gas.
• Tensions between the U.S., Israel, and Iran led to the closure of the Strait of Hormuz.