Despite the continued challenge to export economics posed by the narrow Brent-WTI spread, U.S. crude oil loadings rose to 4 MMb/d last week, an increase of 689 Mb/d from the previous week. The four-week moving average (dashed red line in below chart) now stands at 3.9 MMb/d, consistent with the year-to-date average.
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- Analyst Insight
U.S. Crude Oil Exports Dip Below Year-To-Date Average
U.S. crude oil loadings fell to 3.5 MMb/d last week, a decrease of 391 Mb/d from the prior week.
- Analyst Insight
U.S. Crude Oil Exports Skyrocket to 16-Week High, Spurred by Production Outages Abroad
U.S. crude oil loadings surged to 4.6 MMb/d last week, an increase of 2.1 MMb/d (87%) from the previous week. Unplanned outages in Kazakhstan and Norway, totaling more than 1 MMb/d, spurred increased U.S. export demand.
- Analyst Insight
Crude Oil Exports Increase by 35% Week-on-Week, Driven by Europe-Bound Activity
Crude oil loadings across the U.S. Gulf Coast surged to 4 MMb/d last week, marking a 35% increase of 1 MMb/d from the previous week.
