US Exports Make More Waves, Taking Opec Share In Core Asian Markets

Record US crude exports are competing with Opec producers in their core Asian markets.  The country’s changing import slate is also making waves. 

US crude exports have recovered from early-September’s hurricane-induced slump, and then some.  Exports soared to 1.80mn b/d for the first 27 days of October, blowing the previous record of 1.12mn b/d set in February out of the water.  The provisional weekly data also indicate that September exports, at 1.26mn b/d, also topped the...