US petroleum exports set record 5.6 million barrel per day high in 2018
For the 16th consecutive year, U.S. petroleum exports set a record high in 2018, reaching an annual average 366,000 barrels per day above 2017 levels, according to a report released by the Energy Information Administration.
The annual average for the year was reported at 5.6 million barrels per day, primarily due to the exports of distillate, propane and motor gasoline. Two of the three set records reached its second-highest volume on record, furthered by a decade-long increase of crude oil production and refinery input that pushed petroleum products to meet high domestic demand and press beyond national borders.
Distillate transports were the most exported petroleum product last year, accounting for around 25 percent of U.S. refinery net production — 1.3 million barrels per day. The largest recipient of this was Mexico, which took on around 298,000 barrels per day of these exports. Meanwhile, propane exports reached 972,000 barrels per day, passing motor gas exports and flooding Asian markets in the process. Japan took the greatest share of this, accounting for more than 258,000 barrels per day.
U.S. motor gas exports reached 951,000 barrels per day — a 126,000 b/d increase over 2017 figures, despite the 9.3 million barrels per day demanded by domestic consumers, which is near record levels as well. Refiner and blender net production rose to meet the demand, increasing by more than 100,000 barrels per day. However, where exports were concerned, Mexico once again received the lion’s share, at 529,000 barrels per day — more than 50 percent of total U.S. gas exports.
