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US Gulf Coast Exports to Reach Record High

OIL
BulletEnergy BulletsCommoditiesUS

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.

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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.