Crude oil loadings across the U.S. Gulf Coast recovered last week, increasing by 1.4 MMb/d to 4.4 MMb/d — the second highest week since mid-March. This significant jump shifted the four-week moving average (dashed red line in chart below) to 3.8 MMb/d. Exports increased for all regions, especially for Corpus Christi, which jumped 1.1 MMb/d week-over-week. Notably, the effects of Tropical Storm Alberto, the first named storm of the 2024 Atlantic hurricane season, contributed to the previous week’s export decline, particularly in Corpus Christi.
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- Analyst Insight
Alberto Helps Push U.S. Crude Exports to Lowest Since July 2023
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.
- 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
Weekly U.S. Crude Oil Exports Rebound from Winter Storm Enzo
U.S. crude oil exports averaged 3.8 MMb/d last week, up 324 Mb/d from the prior week, recovering from Winter Storm Enzo, which impacted the Gulf Coast the prior week.
