More U.S. Distillate is Being Exported

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U.S. distillate exports have continued to increase in 2017, both in volume and as a share of total distillate production. Domestic distillate demand has remained relatively stable, increasing slightly from January through July 2017.

Distillate exports from the United States reached a record high in July 2017 of 1.7 million barrels per day (b/d). In August, exports of distillate fell to 1.4 million b/d when Hurricane Harvey resulted in port closures. Based on data through August, distillate exports have accounted for 28% of the total distillate produced in the United States in 2017.

U.S. distillate exports in 2017 have been destined primarily for countries in Central and South America, Europe, and North America. The proximity of U.S. Gulf Coast refineries to Mexico and to Central and South America, combined with these regions’ high demand and recent refinery shutdowns, have led to strong U.S. distillate exports to these locations. In addition to increased export demand, the difference between distillate prices and crude oil prices encouraged relatively high refinery runs…

 

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