EIA: US exported file quantities of petroleum merchandise within the first half of 2022

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Within the first half of 2022 (January–June), US exports of petroleum merchandise averaged almost 6 million barrels per day (b/d), probably the most first-half-of-year exports in Petroleum Provide Month-to-month information, going again to 1973, in accordance to the US Vitality Data Administration (EIA).

Eia

US petroleum product exports elevated within the first half of 2022 by 11% (596,000 b/d) in contrast with the primary half of 2021—the quickest development price for that point interval since 2017. Practically all petroleum merchandise contributed to elevated exports, and the biggest volumes got here from distillate gasoline oil and hydrocarbon gasoline liquids (HGLs), which embrace propane.

Distillate gasoline oil exports elevated by 19% (190,000 b/d) from the primary half of 2021 to the primary half of 2022. Excessive demand and low inventories globally, together with financial sanctions in opposition to Russia and self-sanctioning by some companies after Russia’s full-scale invasion of Ukraine in February, have disrupted international distillate commerce. Regardless of modifications in commerce patterns for different merchandise, Europe’s imports of distillate from Russia, to this point, present little change from 2021.

Europe’s sanctions, adopted in June, prohibit imports of crude oil and sure petroleum merchandise from Russia, together with distillate gasoline oil, and can take impact in December for crude oil and in February 2023 for petroleum merchandise. As a result of these sanctions haven’t but gone into impact, there has not been the anticipated enhance in US exports to Europe, stated the EIA. As a substitute, exports to Europe decreased to 71,000 b/d within the first half of 2022, whereas US distillate exports to Latin America elevated to greater than 1 million b/d.

Propane was the most-exported US petroleum product within the first half of this yr by quantity, persevering with a pattern began in 2020. US propane exports averaged 1.4 million b/d within the first half of 2022, a 6% enhance (78,000 b/d) from the primary half of 2021. US exports to Asia have grown quickly lately as consumption of propane as a petrochemical feedstock and shopper demand have each elevated.

This yr, altering provide patterns have elevated Europe’s demand for US propane. A lot of the development in propane exports within the first half of 2022 went to Europe. US propane exports to Europe elevated by 51% (87,000 b/d) and set a file of 349,000 b/d in June.

US motor gasoline exports elevated by 11% (89,000 b/d) to achieve a file of 910,000 b/d for the primary half of 2022. US jet gasoline exports greater than doubled within the first half 2022 in contrast with the identical interval final yr. Solely US residual gasoline oil exports declined barely in contrast with final yr, to 113,000 b/d.

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