Crude oil loadings across the U.S. Gulf Coast increased to 3.9 MMb/d last week from 3.8 MMb/d the previous week, resulting in a shift of the 4-week moving average (blue line in chart below) to 4 MMb/d. Last week’s average was 222 Mb/d below the Q1 2024 average. Corpus Christi (light blue area in chart below) was the sole region to see exports up last week while Houston and Louisiana saw a decline (dark blue and pink areas respectively), and Beaumont’s exports remained flat compared to the previous week (orange area).
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- Analyst Insight
U.S. Exports Dip As Fewer VLCCs Enter Gulf Coast for Loading
Crude oil loadings across the U.S. Gulf Coast dropped to 3.7 MMb/d last week from 3.9 MMb/d the previous week, shifting the 4-week moving average to 3.9 MMb/d.
- Analyst Insight
Weekly U.S. Crude Oil Exports Plummet But 4-Week Average Trends Higher
U.S. crude oil loadings averaged 2.9 MMb/d last week, a drop of 1.5 MMb/d from the previous week. Despite this, the four-week moving average was brought up to 3.8 MMb/d, with last week replacing a slightly lower volume for the week ended November 8.
- Analyst Insight
U.S. Crude Oil Exports Rise, Back at Year-To-Date Levels
Despite the continued challenge to export economics posed by the narrow Brent-WTI spread, U.S. crude oil loadings rose to 3.9 MMb/d last week, up 434 Mb/d from the previous week and only 13 Mb/d shy of year-to-date levels.
