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US exported 1mn b/d of crude in April

02 Jun 2017 17:22 (+01:00 GMT)
US exported 1mn b/d of crude in April

Houston, 2 June (Argus) — US crude exports averaged 1mn b/d in April, up from 834,000 b/d in March, according to trade data released today by the US Census Bureau.

China was the top destination and imported about 323,000 b/d of US crude, followed by Canada with about 296,000 b/d.

South Korea took about 69,000 b/d as the Asia-Pacific region is becoming a more popular export outlet for US crude. Singapore imported about 31,000 b/d and Thailand received 22,200 b/d.

In other regions, the UK imported about 40,000 b/d of US crude in April; the Netherlands took about 78,000 b/d; and France imported about 40,000 b/d.

Other countries that imported US crude in April include Argentina, Colombia, Italy, Georgia and Denmark.

The trade data includes several categories including crude under 25°degrees API, crude that is 25°API or higher, and condensate derived wholly from natural gas.

Since the previous administration of US President Barack Obama lifted 40-year old restrictions on most oil exports in December 2015, US oil, primarily light crude, has been exported to countries around the globe.

US crude exports averaged about 520,000 b/d in 2016, with Canada receiving about 300,000 b/d.

US exports have been buoyed by recent US Gulf coast infrastructure expansions, including new loading facilities and more are in the works.

The first VLCC-size ship to ever dock at a US Gulf coast port arrived on 26 May at Occidental's Ingleside terminal near Corpus Christi. The company said it would dock for two days, allowing engineers to assess if they can modify the terminal to regularly load VLCCs in the future.

The US Energy Information Administration said domestic crude exports averaged 1.3mn b/d in the week ending 26 May, the agency's most recent estimate.