Oil World Turns Upside Down as U.S. Sells Oil in Middle East
By Sheela Tobben
and Wael Mahdi
February 6, 2018, 4:58 PM EST Updated on February 7, 2018, 9:05 AM EST
Cargo said to be condensate meant for Abu Dhabi’s splitters
U.S. exported about 700,000 barrels to U.A.E.: Census Bureau
OPEC's Control of the Oil Market Is Running on Fumes
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil.
Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.
https://www.bloomberg.com/news/articles/2018-02-06/u-s-oil-heads-to-middle-east-in-latest-sign-of-shale-s-spread