The New Orleans Advocate reviews the port, or LOOP, has even more than twofold the sheer number of oil tankers loaded for crude export in the first six months of the year.
The primary push behind the soar is the lifting of a 40-year ban on crude exports that ended in 2015. And following four decades of declines, U.S. crude production has heightened from 5 million barrels per day in 2010 to 12.4 million per day in May.
LOOP President Terry Coleman says the further commercial activity could possibly extend LOOP's workforce.
Coleman says trade upheaval with China and India may create production volume inefficiencies but he believes the market will eventually rebalance.
This article is originally posted on tronserve.com
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