Caribbean Crude

Caribbean crude oil has historically been a main feedstock for US Gulf Coast refineries. However, the recent surge in US inland crude oil production, combined with the steady imports from the Arabian Gulf, has greatly reduced demand for Caribbean crude oil grades in the US Gulf. The chart below highlights this declining trend in imports which amount to the equivalent of one Aframax cargo per day, or approximately 500,000 barrels. In response, Caribbean oil producers have been in strategic pursuit of growing markets in the East. Download here