Based on data from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the Gulf Coast in June 2024 averaged 166 Mb/d (height of the rightmost stacked columns in chart below), a solid rebound from 98 Mb/d in May, and 80 Mb/d below the year ago level. For the first time since December 2022, India (gray columns) edged out China as the largest recipient of Canadian barrels at 67 Mb/d, up from zero in the prior month and zero one year ago. China (red columns) fell into second place at 66 Mb/d, just over a double from the prior month’s total of 32 Mb/d, and about one-third of one year ago at 193 Mb/d. Spain (blue columns) was the next largest recipient of heavy crude at 22 Mb/d, one third of the volume in the prior month and less than half the 50 Mb/d of one year ago. The sole “other” country (green columns) for re-exports in June was Peru, taking in 12 Mb/d, and only the third time this nation has received Canadian heavy oil re-exported from the Gulf Coast.
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