(MENAFN) Imports of US crude oil have reached its lowest level in 16 years after domestic output increased, according to Arab News.
Shipments of imported crude have dropped by 11 percent reaching 7.41 million barrels per day.
Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Mass, said: "Imports are falling because we can produce more oil now. That can save us tons of money and is good for the economy."
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