API’s August Monthly Statistical Report Shows U.S. Energy Markets are Rebalancing, Remain Fragile

17 Sep API’s August Monthly Statistical Report Shows U.S. Energy Markets are Rebalancing, Remain Fragile

WASHINGTON, September 17, 2020 – The U.S. returned to being a net energy exporter in August despite disruptions from Hurricane Laura and ongoing uncertainty over the pandemic, according to data released today in the American Petroleum Institute’s August 2020 Monthly Statistical Report and Q3 2020 Industry Outlook. Higher demand and lower supply translated into lower crude oil inventories and further illustrated the gradual rebalancing of the market.

Source: American Petroleum Institute