But most of the U.S. oil production is light tight oil, and American exports—especially those of very light sweet crude—may hit a demand constraint next year, Bill Barnes , director of energy consultancy Pisgah Partners, writes in Petroleum Economist. Oil production in the U.S. is currently expected to reach an all-time high at an average 9.9 million bpd next year. In recent weeks, U.S. crude oil exports beat records , and surpassed the 2-million-bpd mark for the first time ever in the week to October 27. Last year, 51 percent of the 8.4 million bpd of crude oil produced in the Lower 48 States was light oil , or less dense oil with an API gravity of 40.1 or above, EIA data shows. The higher the API gravity, the lighter the oil. So far this year, much of the lower 48 states’ crude oil production had 30.1 or higher […]