HOME ABOUT US OUR SERVICES NEWS & EVENTS CONTACT HomeAll postsGlobal NewsDespite Trump’s claim, the U.S. still needs... DESPITE TRUMP’S CLAIM, THE U.S. STILL NEEDS SOME MIDDLE EAST OIL January 2, 2020 by Bidco Shoretanks B.V 175 NEW YORK (Bloomberg) – President Donald Trump said during an address from the White House Wednesday that the U.S. no longer needs oil from the Middle East, but American refineries still use the kind of oil that region produces. Thanks to booming shale production, the U.S. reduced shipments from the Persian Gulf to a 30-year low last year. Still, Middle East crude makes up more than 10% of U.S. imports. With new oil production records being set in the Permian Basin, the country’s energy growth engine, America’s thinning reliance on Middle East crude isn’t about to reverse course. Before the “shale revolution,” as American drillers call it, Gulf coast refiners invested millions of dollars to process relatively cheap heavy oil from the Middle East and Latin America. At the same time, shale oil is much lighter and lower in sulfur compared with supply from the Persian Gulf, and not ideal for most American refineries. Sources of heavy crude supplies have already been limited since the U.S. levied sanctions on Venezuelan oil, declining Mexican production and Canadian logistical constraints. With sanctions already on Iran, buyers are still dependent on other Persian Gulf producers. Tags: independent, oil, storage Category: Global News ABOUT BIDCO SHORETANKS B.V RELATED POSTS Bidco shoretanks B.V 16 Hoxton Square Shoreditch, London, N1 6NT, United Kingdom. Rotterdam office number : +31 63525 9108 United Kingdom office number : +44 7723 58128 tel.: +44 02035409586 e-mail: info@shoretanks.com CONTACT INFO Bidco shoretanks B.V 16 Hoxton Square Shoreditch, London, N1 6NT, United Kingdom. Hoefsmidstraat 40 Rotterdam Netherlands Rotterdam office number : +31 635 25 0448 United Kingdom office number : +447427224791 e-mail: info@shoretanks.com RECENT NEWS New York won’t appeal its defeat in Exxon climate trial January 2, 2020by Bidco Shoretanks B.V Despite Trump’s claim, the U.S. still needs some Middle East oil January 2, 2020by Bidco Shoretanks B.V Equinor to extend Statfjord field life with 100 new wells December 11, 2019by Bidco Shoretanks B.V SERVICES Transportation Tank Storage International Freight Air Freight Rail Freight BIDCO SHORETANKS B.V © 2021 All Rights Reserved.