Report examines petroleum product export rise

An Energy Information Administration (EIA) analysis determined during the first half of this year, the nation experienced a rise in exported petroleum products.

The breakdown showed an average of 5.47 million barrels per day (b/d) of petroleum products, officials noted, adding it represented an increase of 19,000 b/d from the first half of 2018 and the slowest year-over-year growth rate for any half year in 13 years.

A pair of factors contributing to lower exports were lower refinery runs in the first half of this year compared with the first half of 2018 and slowing global economic growth – limiting demand for petroleum products.

During the first half of 2019 increased exports of propane and distillate offset decreased exports of all other petroleum products, per EIA’s Petroleum Supply
Monthly.

The numbers revealed Mexico was the largest destination for distillate exports during the first half of the year, receiving 290,000 b/d, or 22 percent of total distillate exports, adding aside from Mexico, domestic distillate exports go mostly to Central and South America, including Brazil, Chile, and Peru.

Distillate exports originating domestically also go to Europe, mostly to the Netherlands, which is a transshipment country for some of the distillate volumes.

The EIA maintains continued growth in petroleum product exports will result in the United States becoming a total petroleum net exporter, although slower than in previous years and combined with increasing crude oil exports.