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Terminal News

US crude exports hit record high

US crude exports hit record high
Waterborne exports of crude oil from the US reached a record high of 9.025 million barrels at the end of April.

According to Gencape, during the week ending April 21, exports exceeded the previous high water mark set on March 3 of 7.264 million barrels.

The April monthly average for US crude exports is 850,000 barrels per day, just below the record-high monthly average set in February at 858,000 barrels per day.

Since the crude export ban was lifted in January 2016, volumes have increased from 245,000 barrels per day that month. So far in 2017, exports are averaging 698,000 barrels per day, compared to 230,000 barrels per day for 2016, as current pricing has attracted foreign interest.

Total US exports reached 1.152 million barrels per day for week ending April 21, according to the EIA.

Genscape says the largest portion of exports from the US for week ending April 21 were bound for East Asia.



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