While US Crude Exports fell to 3 MMb/d this week from last week's 4.4 MMb/d, and the four-week moving average continued to hold at about 4.1 MMb/d, the big story again was the distribution of that top line number. Beaumont exported 0 bbl last week, and Houston fell by 600 Mb/d to 800 Mb/d, while Louisiana was up about 100 Mb/d and Corpus Christi was off only 300 Mb/d. In addition, European exports fell off drastically, down to 8.2 MMbbl from 20 MMbbl, while Asian exports were off only 8% at 6.3 MMbbl. Houston's exports seemed to be affected by imports occupying berthing facilities.
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- Analyst Insight
U.S. Crude Oil Exports Bounce Back
U.S. Exports Rebound, Although Still Lower than March, February Averages. Roundup of weekly Gulf Coast crude exports and more in todays Analyst Insight
- Blog
One Week - A Record Seven Days for Gulf Coast Crude Exports, and a Lot More
The level of activity at crude oil export terminals from Corpus Christi to the Louisiana Offshore Oil Port (LOOP) is nothing short of extraordinary — a record 4.8 MMb/d was loaded the week ended August 25, according to RBN’s Crude Voyager report, and Houston-area terminals loaded an all-time high of 1.4 MMb/d. But there’s a lot more to the crude exports story. When you live this stuff day-in, day-out, you see subtle changes that often extend into trends and, if you’re lucky, you sometimes get signals that things you’d been predicting are actually happening. In today’s RBN blog, we discuss highlights from the latest Crude Voyager and what the weekly report’s data and analysis reveal about the global oil market.
- Blog
Let It Go - Will New Crude Export Terminals Be 'Frozen' in Favor of Expansions?
In our blogs and at our 2019 School of Energy a couple of weeks ago, we’ve spent a lot of time discussing the ins and outs and pros and cons of a multitude of proposed crude oil export terminals. What we’ve come to believe is that, with U.S. production growth appearing to slow and market players fearful of overbuilding, many of these multibillion-dollar greenfield projects are unlikely to advance to financing and construction. Odds are that the midstream sector instead will focus on ways to add new capacity to existing terminals, even if that means still relying on reverse lightering in the Gulf of Mexico to fully load Very Large Crude Carriers (VLCCs). In today’s blog, we discuss why producers, traders and midstreamers alike may be pulling back from investments in big, expensive export projects, and what it could mean down the road.
