U.S. Gulf Coast crude exports soared above the 5 MMb/d mark for a sixth consecutive week. A massive 5.2 MMb/d of crude (far right of chart below) was loaded for export for the week ended May 22, extending the strongest crude export run on record. Export flows continue to run comfortably above the 2026 year-to-date average of 4.4 MMb/d. Supporting much of this week's volume was a sharp resurgence in Asia-Pacific (APAC) demand after several weeks of softer buying interest. Flows to APAC jumped nearly 40% week over week to 2.4 MMb/d, representing roughly 45% of total Gulf Coast crude exports, with South Korea and Japan once again leading the charge as the dominant buyers of U.S. barrels.
As discussed in our Crude Voyager, the strength in export volumes was mirrored by another exceptionally active Very Large Crude Carrier (VLCC) loading slate. According to vessel tracking and AIS data, a total of 11 VLCCs loaded along the Gulf Coast last week. Nine of these VLCCs are currently headed for the APAC region, further highlighting the resurgence in Asian demand that has helped propel Gulf Coast exports to sustained record-high levels.
As discussed in last week's Crude Oil Billboard, while exports continue to operate in overdrive for the short-term, maintaining flows above 5 MMb/d for an extended period may prove increasingly difficult as barrels are continuously being pulled from domestic inventories. Without either a meaningful increase in U.S. crude production or additional inbound pipeline flows into the Gulf Coast, exports will likely struggle to sustain these elevated levels as persistently high export volumes would continue tightening domestic supply balances and further erode storage levels.
