After last week's 3.1 MMbbl/d of U.S. crude exports, the four-week moving average has declined to 3.6 MMbbl/d, a level not seen since August 2023. Asian exports increased to 8 MMbbl, but European exports plunged to 6.2 MMbbl for the week, well-below the 2024 average of 13 MMbbl.
Featured Articles
- Blog
Slow Down - Combination of Factors Pull U.S. Crude Oil Exports Back From Record Highs
The U.S. has become an oil-exporting powerhouse in recent years, propelled by booming shale production, notably from the Permian Basin. U.S. crude oil now flows more freely than ever to help meet global demand, including to Europe, which increasingly turned to the U.S. following Russia’s invasion of Ukraine two-plus years ago, but exports have slowed recently. In today’s RBN blog, we examine a half-dozen reasons why the export surge has tapered off and why it may not change much in the weeks ahead.
- Blog
Things Have Changed - Rebound in U.S. Crude Exports Driven By Shifts in Production, Imports, Refinery Runs
After setting an annual record of 4.1 MMb/d in 2024, U.S. crude exports started off this year relatively strong, but cracks soon began to show, with volumes falling all the way to 3.2 MMb/d in July, one of the weakest months since 2023. But just when it seemed the momentum was gone, Gulf Coast exports rebounded to near 3.9 MMb/d in August and are topping 4.1 MMb/d so far in September. In today’s RBN blog, we look at how shifts in production, imports and refinery runs have impacted U.S. crude exports.
- Analyst Insight
U.S. Crude Oil Exports Bounce Back
U.S. Exports Rebound, Although Still Lower than March, February Averages. Roundup of weekly Gulf Coast crude exports and more in todays Analyst Insight
