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Soaring US Crude Exports Slipping May

OIL

The number of supertankers signaling the US as their next destination decreased to the lowest level in four months over the past week, according to Bloomberg vessel tracking.

  • The flow to China edged lower which has been a key export destination for US volumes in recent weeks.
  • US-bound vessels declined by 10 to 27 tankers.
  • Vortexa vessel tracking shows overall US crude exports slipping in the first half of May, dipping from March/April’s soaring pace.
  • US crude exports were expected to slow as domestic refining capacity returns from maintenance and ramps up for the summer driving season.
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