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US and Canada Making Major Contribution to Global Supply

OIL

US and Canadian seaborne oil exports - everything including crude, products, LPG and ethane - set new records over the last 3 months at 10.9mbd according to Vortexa.

  • In 2016, exports accounted for no more than 4.8mbd, translating to an annual average growth in exports of about 770kbd.
  • This compares to global oil demand growth of about 870kbd (outside the US and Canada) over the same period, underpinning the role of the two countries in the global oil market.
  • Overall there is a trend away from crude to products and from US Gulf Coast to other export regions.

Source: Vortexa

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