According to RBN's Crude Voyager Report, U.S. Gulf Coast crude exports fell to 4.7 MMb/d for the week ended June 12 (far right of chart below), the lowest volume in nine weeks. Despite this decline, volumes remain above the 2026 year-to-date (YTD) average of 4.5 MMb/d.
Europe reclaimed its position as the primary destination for U.S. barrels last week, nearly doubling its intake to 2.5 MMb/d and accounting for more than half of all exported barrels. The shift comes as Asian volumes retreated sharply following several weeks of elevated demand. While some of this movement reflects normal trading patterns, it also highlights Europe's continued reliance on Atlantic Basin crude supplies and the flexibility of U.S. exporters to redirect barrels when arbitrage opportunities change. Despite the strength in Europe-bound volumes, it remains too early to conclude that a durable trend has emerged, as weekly export flows can be heavily influenced by cargo timing and shifting arbitrage economics.
Additionally, twelve Very Large Crude Carriers (VLCCs) entered the Gulf this week, the highest number since late 2023 and double the average six VLCCs seen entering the Gulf on average for 2026. Although exports eased this week, the unusually high number of VLCC arrivals points to continued strong export activity ahead, raising the possibility that Gulf Coast crude exports could climb back above 5 MMb/d within the next few weeks before the start of July.
