U.S. Crude Oil Exports Skyrocketed in 2016 and 2017

In 2002, the United States exported only 3.3 million barrels of crude oil; by 2017, exports were 408 million barrels. In December 1975 the Energy Policy and Conservation Act banned most U.S. crude oil exports in an effort to gain some control over supply as a reaction to spiking oil prices. Some exports continued after that date because the U.S. Commerce Department could grant exceptions for some types of oil. In December 2015, Congress lifted the ban on crude oil exports resulting in the rapid rise thereafter.