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Crude Shipments from the US to Spain Rise to Record in Dec

OIL

Imports of crude to Spain from the US rose to a record in December as the supplies play an increasing role as a feedstock to European refineries according to Bloomberg.

  • US crude imports to refiners in Spain rose 148% year on year to 1.06m tons, according to CORES data to account for a fifth of total imports in the month.
  • European refineries have increased purchases of WTI Midland crude with flows boosted by competitive US prices.
  • Angola’s import flows also increase by 27% y/y to 523k tons, while Brazil’s imports increased 81% to 656k tons.
  • Saudi Arabia imports were the lowest since February at 278k and Nigeria were the lowest since March at 384k.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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