U.S. crude oil loadings decreased by 211 Mb/d week-on-week to 3.7 MMb/d, bringing the four-week moving average (dashed red line in chart below) to just under 3.7 MMb/d — its lowest since the week ending June 21. The number of tankers loading crude oil for export across U.S. Gulf Coast terminals decreased by six week-on-week, totaling 28. Seven Very Large Crude Carriers (VLCCs) loaded directly at export terminals, up from five the previous week. After two consecutive weeks with 10 VLCCs entering the Gulf Coast for loading, only four entered last week. Nine VLCCs departed — seven for Asia (five to China and one each to India and South Korea) while the destinations of the Advantage Verdict and the Dhalkut remain undeclared.
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- Analyst Insight
U.S. Gulf Coast Crude Oil Exports Drop to Lowest Level in Over a Year, Partly Driven by Hurricane Francine
U.S. crude oil loadings from the Gulf Coast dipped by 153 Mb/d week-on-week to 2.8 MMb/d, marking the lowest level since mid- 2023.
- Analyst Insight
U.S. Crude Oil Exports Edge Above Year-To-Date Levels
Despite the continued challenge to export economics posed by the narrow Brent-WTI spread, U.S. crude oil loadings rose to 4 MMb/d last week, an increase of 689 Mb/d from the previous week.
- Analyst Insight
Crude Oil Exports Increase by 35% Week-on-Week, Driven by Europe-Bound Activity
Crude oil loadings across the U.S. Gulf Coast surged to 4 MMb/d last week, marking a 35% increase of 1 MMb/d from the previous week.
