Dec. 2 (Bloomberg) -- U.S. refining margins are shrinking just as the nation becomes a net exporter of oil products for the first time since 1949.
Companies lost $1.11 a barrel from processing Light Louisiana Sweet crude, the benchmark Gulf Coast grade, as of Nov. 25. That was the worst return since Sept. 21 and compared with an average profit of $5.50 this year, according to data compiled by Bloomberg. U.S. shipments abroad of gasoline, diesel and jet fuel exceeded imports by 64 million barrels in the first nine months of this year, Energy Department data show.
