A strong demand for U.S. crude oil has been evident over the last few months as export volumes have remained robust. Data from RBN’s weekly Crude Voyager report shows that crude oil exports from the U.S. Gulf Coast remained high at 4.4 MMb/d for the week ended November 3, only 14 Mb/d below the previous week’s levels. The Corpus Christi- and Houston-area terminals loaded 2.5 MMb/d and 1.2 MMb/d, respectively. As a result of hectic loading activity, shipments in October were estimated at 3.9 MMb/d — the fourth-highest monthly total from the Gulf Coast. Notably, this was largely due to increased exports from the Houston region, which loaded its second-highest volume in October at 1 MMb/d, only 205 Mb/d short of the record set in March. With these loadings, year-to-date volume rose to 3.8 MMb/d — another record for Gulf Coast terminals.
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- 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.
- Analyst Insight
Gulf Coast Terminals Load Over 4 MMb/d for the Third Consecutive Week
The Crude Voyager report shows that activity across the U.S. Gulf Coast continued at a frenetic pace as the export terminals collectively loaded more than 4 MMb/d of crude oil for export in the week ended June 30.
- Analyst Insight
Gulf Coast Terminals Load Record Volume at 4.8 MMb/d
Crude oil terminals across the U.S. Gulf Coast loaded their highest weekly shipments at 4.8 MMb/d in the week ended August 25.
