Crude oil loadings across the U.S. Gulf Coast plummeted by 1.4 MMb/d, dropping to 3 MMb/d — the lowest level since mid-July last year. This significant decrease shifted the four-week moving average (dashed-red line in chart below) to 3.6 MMb/d. Tropical Storm Alberto, the first named storm of the 2024 Atlantic hurricane season, notably contributed to last week’s export decline, particularly in the Corpus Christi area where vessel pilot services were suspended for approximately two days due to rough weather.
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- Analyst Insight
Crude Exports Rebound from Previous Week’s Tropical Storm Alberto Impacts
U.S. crude exports rebound from delays prompted by Tropical Storm Alberto
- Analyst Insight
U.S. Crude Oil Exports Slide, Mixed Short-Term Global Demand Signals
U.S. crude oil loadings dropped to 3.6 MMb/d last week, a decrease of 0.8 MMb/d from the previous week.
- Analyst Insight
China-Bound Loadings Rise Amid Declining U.S. Gulf Coast Crude Oil Exports
U.S. crude oil loadings decreased by 211 Mb/d week-on-week to 3.7 MMb/d, bring the four-week moving average just under 3.7 MMb/d — its lowest level since the week ending June 21.
