The End Of An Era?

May 23rd, 2025:U.S. crude oil exports have reached a plateau Ever since President Obama lifted the 41-year-old U.S. crude oil export ban in December 2015, U.S. crude oil has played an increasingly important role in the tanker market. Despite logistical challenges due to the relatively shallow draft of U.S. Gulf ports, American producers have become one of the largest seaborne crude oil exporters. A mix of medium and long-haul clients in Europe, Asia and Africa (Dangote) offers employment opportunities for the whole range of crude tankers, from VLCCs down to Aframaxes, the latter also being used for reverse lightering operations in the area. However, after exports increased from a few hundred thousand barrels per day in 2016/2017 to an average of 4.0 Mb/d in 2023, growth has leveled off. In 2024, exports were 160,000 b/d lower than in 2023 and so far in 2025, we have seen a further 90,000 b/d decline. In the past, U.S. oil production, especially from the shale patch has proven to be very resilient, but it appears that the period of rapid production and export growth is in the rearview mirror. What can be expected from the U.S. in the coming years and how will that impact the tanker market? Please fill in below form to continue read.