June 27, 2022 14:39 GMT
Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3mbpd in the second quarter of 2022 according to Rystad Energy.
- The high exports will be driven by limited refining capacity and boosted supplies due to SPR releases.
- The previous high was 3.2mbpd in 1Q20 with the biggest increases coming from Port of Corpus Christi and Port of Houston.
- With limitations on the amount of crude that can be used as refining feedstock any excess domestic crude production is heading for overseas export.
- Rystad base scenario forecasts crude exports to approach 4mbpd in 1Q23 and above 4mbpd in 2Q23.