March 29, 2022 – Houston Public Media
Russia’s invasion of Ukraine has prompted an increase in crude oil exports from Texas ports, analysts say
By: Andrew Schneider
…Part of the reason for the export increase is that Brent crude, the global benchmark for oil prices, is trading at a premium of more than $10 compared to the U.S. benchmark — West Texas Intermediate, or WTI. That means U.S. producers can reap much greater profits by selling their crude overseas.
Analysts say much of the increase in exports is going out through Corpus Christi and the Beaumont-Port Arthur region, while the Houston area has actually seen a slight dip.
"Corpus Christi is up a little bit year over year," said David Braziel, CEO of analytics firm RBN energy. "They had averaged about 1.7 million barrels per day in 2021, and so far this year, Corpus Christi is averaging about 1.8 million barrels a day of crude oil exports."…
Read the full article here: https://www.houstonpublicmedia.org/articles/news/energy-environment/2022/03/29/422134/russias-invasion-of-ukraine-has-prompted-an-increase-in-crude-oil-exports-from-texas-ports-analysts-say/
