US oil exports to China and India jump as American crude heads overseas at a record pace

The US is sending more crude to Asia as the world's top fuel- consuming region ramps up long-haul orders.

There was an increase in barrels coming from the US to China, India, and South Korea in November.

A record amount of crude has left the country because of President Joe Biden's releases from the Strategic Petroleum Reserve.

The Energy Department data shows that US crude exports hit 5 million barrels per day. On Monday, West Texas Intermediate fell to $90.53 per barrel.

According to the IEA, Russian crude continues to flow to Asia and the nation's production has beaten expectations.

Spot premiums for Persian Gulf barrels have fallen due to the increase in American crude going to Asia.

Over the last month, the premium of Omani crude futures to swaps has fallen by more than 50%.