US record crude oil exports bite into Russia, Opec market share in Asia

Data from the Energy Information Administration shows U.S. oil exports peaked at 2.6 million bpd two weeks ago

Record crude oil volumes exported from the United States will be heading to Asia in the next couple of months to take another piece of the market away from Russia and producers in the Organisation of the Petroleum Exporting Countries (OPEC).

An oil pump is seen operating in the Permian Basin near Midland, Texas, US.

The United States is set to export 2.3 million barrels per day (bpd) in June, of which 1.3 million bpd will head to Asia, estimated a senior executive with a key US oil exporters.

Data from the Energy Information Administration shows U.S. oil exports peaked at 2.6 million