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US March Crude Exports Fall to 4.3mb/d: Census

OIL

US crude exports fell 7.7% m/m and 11% y/y to 4.30mb/d in March, according to Bloomberg calculations from the US census data bureau.

  • Flows to Europe fell 29% m/m to a 5-month low of 1.627mb/d while supply to Asia rose 13% m/m to 1.952mb/d.
  • The main destinations were South Korea (664kb/d), Netherlands (652kb/d), Canada (420kb/d) while supplies to Nigeria and the new Dangote refinery fell 11% to 110kb/d.
  • Total exports were 133.3mbbl in March, including 5.41mbbl with an API below 25 and 127.5mbbl with an API above 25.

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