Soaring output, weak U.S. oil prices to fuel record outflows American refiners may be near limits on local oil processing Selling more than two million barrels a day of U.S. crude overseas may soon be the new normal. The U.S. sent out record amounts of crude to foreign destinations last week, with domestic output hitting an all-time high, thanks to growth in the Permian Basin . The ballooning production has weakened benchmark West Texas Intermediate crude at Cushing, Oklahoma, relative to its international counterpart Brent, making it attractive to buyers overseas. “We will push into 2 million barrels a day consistently over the summer,” said Rob Thummel, managing director at Tortoise, which handles $16 billion in energy-related assets. The nation will likely expand its share in the world crude market to 18 percent from 12 percent in the next couple of decades, he said. Once the world’s largest importer […]