Two and a half years after the U.S. removed export restrictions on its crude oil, its exports hit 3 million bpd —the latest all-time high set in recent months. The volume of U.S. exports last week was higher than the individual country exports of 12 out of 14 OPEC members. Only Saudi Arabia and Iraq export more than 3 million bpd of crude oil to international markets. The U.S. exports were also higher than the crude oil production of all but three OPEC members—Saudi Arabia, Iraq, and Iran. The rise in U.S. exports and the inevitable comparison with OPEC nations’ exports highlights the growing importance of U.S. oil on the international market. The 3-million-bpd export figure for one week is unlikely to be sustainable just yet, analysts think. U.S. exports fluctuate significantly week to week and face several obstacles to keeping that 3-million-bpd level for longer than a week. […]