The US company signed the first contract for the export of oil since the 70-ies

The US company signed the first contract for the export of oil since the 70-ies


Moscow. December 24. The U.S. company on Wednesday announced signing its first contract for the export of oil became the first oil exporter from the USA since the mid 1970-ies.

Enterprise Products Partners LP, based in Texas, in January to ship to export 600 thousand tons of barrels of oil. The resumption of exports was made possible after the recent lifting of the ban on export of this fuel from the United States.

The buyer party will be a trader Vitol Group, which will send raw materials to your refineries in Switzerland, according to The Wall Street Journal.

Meanwhile, the price traded in the US WTI crude oil on Thursday, again above Brent. February futures for Brent crude on London’s ICE Futures exchange to 8:00 Moscow time has risen in price by 0.2% to $37,45 per barrel, according to data by Bloomberg. Quotes of WTI oil futures for February in trading on the new York Mercantile exchange (NYMEX) to a specified time rose 0.5% to $37,67 per barrel.

The price of American WTI exceeds quotations of North sea Brent for the first time in the last four years.

According to the U.S. Department of energy, commercial oil reserves in the country last week fell by 5.88 million barrels. The experts surveyed by Bloomberg had expected growth of 1 million barrels. Decreased the number of operating oil wells.

Against this background, since the beginning of the week, oil has risen more than 8%.