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U.S. crude output exceeds imports for first time in 16 years

Bloomberg

U.S. domestic crude-oil production exceeded imports last week for the first time in 16 years, a government report showed today. Output was 32,000 barrels a day higher than imports in the seven days ended May 31, according to weekly data from the Energy Information Administration, the Energy Department’s statistical arm. Production had been lower than international purchases since January 1997. Read More

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