The Other Exports

23 Mar 2018; The rapid growth of U.S. crude oil production and (more recently) the rise of crude oil exports from the U.S. Gulf have grabbed all the headlines.  However, the U.S. still produces and exports more refined products than crude and this trade continues to grow.  In a report that came out this week the U.S. Energy Information Administration (EIA) noted that U.S. exports of petroleum products grew by 555,000 barrels per day (b/d) in 2017 to reach 5.2 million b/d.  This was a 12% increase over 2016.  Not as high as the 89% increase in crude oil exports, but still a healthy growth rate.  Within the group of petroleum products, there is a wide discrepancy in growth rates between the different commodities, various export destinations and, in the case of seaborne exports, what kind of vessel is used for the movement.    In today’s Opinion, we will elaborate on these developments to determine the impact of these U.S. exports on the international product tanker market. Please fill out the form to read the article.