US Becomes UK’s Top Oil Supplier For First Time Since Suez
The U.S. has become the biggest exporter of oil to the U.K. for the first time since the Suez crisis, as the growing bounty of shale production starts to supplant North Sea supplies.
David Sheppard, Financial Times
Fuel tanker ship moored near an oil refinery on the Humber Estuary in northeast England. (Source: Shutterstock.com)
The growing bounty of shale production has started to supplant North Sea supplies in the U.K. In January, the U.S. supplied the equivalent of almost one in every four barrels of crude processed by U.K. oil refineries, or 264,000 barrels a day, illustrating the outsized role American oil now has in Britain’s energy mix.