New figures from the Energy Information Administration show a record surge in U.S. oil exports, aligning with a global effort to diversify energy supplies away from Russia. The shift signals broader changes in energy sourcing that resonate across Canada, the United States, and Europe as markets seek reliability and price stability.
Recently, U.S. crude oil exports rose by 21 percent to 4.548 million barrels per day, marking an 83 percent increase from the same week a year earlier. The momentum points to steady international demand for American crude, supported by evolving trade policies and expanding infrastructure that makes shipments to buyers worldwide more efficient.
The four-week moving average for U.S. oil exports climbed to 3.486 million barrels per day, roughly 20 percent above the prior year. This smoother measure indicates a continuing trend rather than a one-off spike, underscoring the United States’ growing role as a dependable supplier on the global stage.
Back in December 2015, a U.S. law permitted the unlicensed export of crude oil, as long as exports to embargoed or sanctioned destinations were avoided. That policy framework helped shape today’s export landscape by balancing market access with geopolitical safeguards.
The recent rise in U.S. oil sales mirrors the rising importance of the United States as a supplier not only of crude but also of other energy sources such as liquefied natural gas (LNG). The expanding LNG trade complements oil shipments and strengthens North American energy security.
Largest LNG exporter
Data from the EIA and corroborating Cedigaz findings show the United States as the world’s largest LNG exporter in the first half of 2022. This position reflects investments in LNG export capacity, favorable market dynamics, and rising global demand, especially from European buyers looking to diversify away from more volatile traditional sources.
Compared with the second half of 2021, U.S. LNG exports rose by about 12 percent in the first half of 2022. Contributing factors include higher export capacity, stronger international natural gas and LNG prices, and the need to meet growing demand from international markets, notably in Europe where price signals remained strong.
Global natural gas and LNG prices reached record levels in late 2021 and early 2022. In Europe, the Title Transfer Facility (TTF) benchmark in the Netherlands traded at peak levels for an extended period, underscoring the premium placed on secure, diverse gas supplies.
The EIA noted that Europe boosted LNG imports from late last year to compensate for reduced pipeline gas from other regions and to replenish storage. This trend helped the EU and the UK increase LNG intake by about 63 percent in the first half of 2022 as substitutes for earlier shortfalls.
By June, U.S. LNG exports dipped about 11 percent from the average in the first five months of 2022, a temporary effect largely caused by maintenance and disruptions at the Freeport LNG facility. Partial liquefaction operations were anticipated to resume in early October 2022, restoring part of the export capacity that had been offline.
Meanwhile, peak capacity utilization at seven U.S. LNG export facilities averaged around 87 percent in the first half of 2022, aligning with 2021 levels before the Freeport outages. This suggests solid operating efficiency and robust demand across major LNG corridors, supporting the broader energy security narrative for North America and its partners.