US to remain a net exporter of petroleum products through 2050 - EIA

US refinery runs are forecast to remain strong through 2050 and refinery capacity utilisation is predicted to remain around 90% or higher, according to the US Energy Information Administration (EIA).

PHOTO: US flag on an oil refinery. Getty Images

In its annual energy outlook, the EIA has forecast a steady growth in the US petroleum production through 2050 amid growing global demand. This is expected to boost US exports of petroleum products through 2050.

The EIA highlights that the US exports of petroleum products are expected to rise across all forecast scenarios that includes high and low crude oil prices.

By Konica Bhatt

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