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Will US oil exports really help rebalance the market?

The collapse in US net oil imports over the last few weeks has helped to draw down crude inventories in the country. This has raised hopes that market rebalancing is accelerating and has been one reason for the recent rise in oil prices. However, the slump in net imports is mainly due to lower demand from US refineries and greater shale oil production. It will take further improvements in end-user demand or lower production to actually rebalance the market.

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