U.S. crude oil exports reach new record

Crude oil exports averaged a record 2.1 million barrels per day for the week ending October 27, according to new Energy Information Administration data, marking the first time they have surpassed the 2 million threshold in EIA's weekly tallies.

Data: EIA; Chart: Andrew Witherspoon/Axios

Why it matters: The growing exports underscore how the shale boom and the lifting of major export restrictions in late 2015 are making the U.S. an increasingly prominent force in global crude oil markets.