Crude oil exports hit a record of 5.7 MMb/d in May, exports of ultra-low sulfur diesel hit a record 1.54 MMb/d, etc. At the same time, imports of crude oil and petroleum products plunged further. Net exports (exports minus imports) soared to a new record of 5.9 million barrels per day in May, according to EIA data today. The US became the largest crude oil and lease condensate producer in the world in 2018. The Biden and Trump administrations have used it to beat down the global price of crude oil (buy low, sell high).