America’s Oil Boom Crushes Global Chaos
US crude oil and petroleum product exports smashed a new record last week at 12.9 million barrels per day.
That’s up a massive 2.5 million barrels per day since the Iran war kicked off and double the level from January 2022.
With the Strait of Hormuz closed and Middle East tanker traffic down over 90 percent, Asian and European buyers are scrambling for reliable American supplies. They are turning to US energy to keep the lights on and factories running while unstable regimes falter.
Meanwhile, US crude inventories excluding the Strategic Petroleum Reserve climbed 1.9 million barrels to 465.7 million—the highest since 2023. Strong domestic production is powering record exports without draining reserves at home.