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US Crude Exports Recover in November m/m Helped by Flows to China/Canada

OIL

US crude exports rebounded in November helped by higher flows to China and increased demand from Canada post refinery maintenance.

  • US crude exports reach 4.134m bpd in November, up 17% from the previous month based on Kpler and Vortexa figures compiled by Bloomberg.
  • Flows to Canada more than doubled m/m prompted by Irving Oil resuming purchases and the conclusion of multi-week maintenance at the St. John refinery.
  • Crude flows to China rose 74% m/m while those to India more than tripled.

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