T&T sees highest monthly oil export to US in 7 years

Wednesday, March 27, 2019 - 10:15

Trinidad and Tobago's oil exports to the United States, reached a notable but not-overly-significant seven-year high in December last year.

This is according to figures released by the US Energy Information Administration.

The data shows that in December 2018, this country's export of crude oil to the US was 1.127 million barrels, the most ever exported in one month, since November 2011.

It was also the highest December delivery to the US, since 2007.

The data does not explain the reason why that month, in particular, accounted for such a high volume.

T&T's exports of crude oil to the US began declining steeply as the US became a major player in the energy market, with the global superpower now a net energy exporter.

In 2005, T&T exported 24.6 million barrels of oil to the US but by 2015 that fell to just 2.5 million barrels.

The figures for 2018 show just five months of exports, amounting to a total of 2.7 million barrels.