Based on data from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the Gulf Coast in July 2024 averaged 210 Mb/d (height of the rightmost stacked columns in chart below), a pickup of 44 Mb/d from June and 110 Mb/d greater than a year ago. July’s re-export rate was the highest since February’s 253 Mb/d tally. For the second consecutive month, India (gray columns) was the largest recipient of Canadian crude at 113 Mb/d, nearly double the 67 Mb/d pace of June and versus zero a year ago. China (red columns) was a distant second at 64 Mb/d, a slight deceleration of 2 Mb/d from June, and matches the pace of one year ago. Spain (blue columns) was the third and final recipient at 33 Mb/d, one third higher than June and very similar to the 35 Mb/d rate of a year ago.
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- Analyst Insight
See Ya Later? Gulf Coast Re-Exports of Canadian Heavy Crude Oil Pull back as China Goes AWOL
Canadian heavy oil re-exports from the Gul Coast pulled back sharply in August as buying by China was absent for the first time in nearly three years.
- Analyst Insight
Gulf Coast Re-Exports of Canadian Heavy Oil Rebound in June
Re-exports of Canadian heavy oil from the U.S. Gulf Coast rebounded in June, but remain below the level of one year ago, possibly reflecting impacts of the Trans Mountain Pipeline picking up business for the direct export of crude oil to Asian markets.
- Analyst Insight
Re-Exports of Canadian Heavy Crude Oil Hold Strong in February
Re-exports of Canadian heavy crude oil in February remained strong and gained over January's pace. The pending start up of the Trans Mountain Pipeline expansion may change this story in the months ahead.
