Data from the Crude Voyager report shows that crude oil exports averaged 3.2 MMb/d for most of July, down 11% from the volumes loaded in June. All regions, except for Beaumont, loaded fewer cargoes during the month. The drop in exports was also marked by less vessel activity across the U.S. Gulf Coast. 105 tankers loaded crude oil from the Gulf Coast in July, down from 131 during the same period in June. A drop in the number of VLCC loadings was also noted, from 37 in June to 27 in July. Of these, 20 supertankers loaded directly at export terminals.
Featured Articles
- 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
Take It to the Limit - Crude Exporters Navigate Gulf Coast Terminal Constraints
This blog is based on research from Morningstar Commodities. A copy of the original report is available here.
U.S. crude exports out of the Gulf Coast averaged more than 2.4 MMb/d in the first four months of 2019 — using infrastructure that is increasingly constrained by a lack of deepwater ports. U.S. crude is reaching destinations worldwide, with large volumes traveling long distances to Asia on gargantuan 2-MMbbl vessels — Very Large Crude Carriers (VLCCs) — loaded offshore by ship-to-ship transfer. Shipments to Europe are primarily on smaller Suezmax and Aframax vessels. Overall, the increased marine activity is testing the limits of existing infrastructure. Today, we analyze the past 16 months of crude export vessel movements and their impacts on Gulf Coast ports. (We’ll also be discussing this and other critical trends related to U.S. export markets live and in person tomorrow at xPortcon in Houston.)
- Analyst Insight
U.S. Crude Oil Exports Estimated at 3.5 MMb/d for May
Crude oil exports from the Gulf Coast in May were estimated at 3.5 MMb/d, down 16% from the previous month and the lowest since January.
