Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia

Trade sources said U.S. flows to Europe would keep rising, with U.S. barrels increasingly finding homes in foreign refineries, often at the expense of oil from OPEC or Russia.

In 2017, Europe took roughly 7 percent of U.S. crude exports, Reuters data showed, but the proportion has already risen to roughly 12 percent this year.

Top destinations include Britain, Italy and the Netherlands, with traders pointing to large imports by BP, Exxon Mobil and Valero.
— Read on www.reuters.com/article/us-usa-oil-europe/trumps-revenge-u-s-oil-floods-europe-hurting-opec-and-russia-idUSKBN1HU1QK

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