Based on data from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the U.S. Gulf Coast in February 2024 were at a five-month high of 253 Mb/d (height of the rightmost stacked columns in chart below), nudging ahead of the January total by 18 Mb/d and 84 Mb/d higher than one year ago.
Once again, re-exports to China (red columns) led the way at 131 Mb/d, a small increase of 8 Mb/d from January and further solidifying its position as the largest purchaser of Canadian heavy oil from the Gulf Coast, a position it has held for the past 14 months. India (gray columns) remained active, taking in 86 Mb/d, up 6 Mb/d from January and the strongest month since October. Spain (blue columns) was the third and final buyer in February with 35 Mb/d, a gain of 3 Mb/d over the prior month.
