EnergyWatch

US supertanker terminal set to export oil for first time

The biggest crude oil imports terminal in the US is testing one of the sector's biggest tankers to load an export cargo for the first time. This could represent a step forward in US capacity to export its rising oil production.

Photo: BLoomberg

The flood of crude leaving the US could be about to get a major boost: the nation's top imports terminal is testing one of the industry's biggest tankers to load an export cargo for the first time.

If the trial run signals the start of regular exports from Louisiana Offshore Oil Port, it will be a step change in America's capacity to export the burgeoning production that has roiled global oil markets. The ability to load very large crude carriers, the industry term for giant ships able to carry two million barrels, will significantly cut the cost of shipping cargoes overseas.

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