U.S. crude exports surged to a record 1.76 million barrels per day (bpd) in April from 1.67 million bpd in March thanks to the rising discount for U.S. crude versus the global benchmark, foreign trade data from the U.S. Census Bureau showed on Wednesday. Most of the increase came from Italy and the Netherlands, which received 248,000 bpd and 104,000 bpd, respectively. The total export figure was the highest on record since at least 1920, according to U.S. government data. U.S. oil exports have surged since a decades-long ban on them was lifted late in 2015 and the export economics over the past two months have become even more favorable as U.S. crude’s discount to Brent widened to the most […]