EIA Reports Ten Percent Rise in 2013 US Petroleum Product Exports

By Energy Solutions Forum on May 07, 2014 at 2:00 PM

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U.S. petroleum product exports increased by ten percent from 2012-2013, reflecting a significant boost in domestic crude oil and natural gas production.

On April 22, 2014, the Energy Information Administration (EIA) released a report showing that 2013 U.S. petroleum product exports averaged 3.5 million barrels per day (MMbbl/d) increasing by ten percent from 2012 levels.  December 2013 exports reached 4.3 MMbbl/d, exceeding the level of 4 MMbbl/d for the first time in a single month.

U.S.-Petroleum-Product-Exports

Average Annual U.S. Petroleum Product Exports (EIA)

According to EIA, 2013 U.S. distillate fuel production increased by 160,000 bbl/d over 2012 levels driven by cost-advantaged crude oil and natural gas which resulted in near-record-high refinery runs.  Average 2013 distillate fuel exports increased by 110,000 bbl/d over 2012 levels, exceeding 1.1 MMbbl/d.  In 2013, distillate exports to Central and South America, the largest buyers of U.S. distillate fuel, increased by 60,000 bbl/d to an average of 550,000 bbl/d; distillate exports to Europe rose by 50,000 bbl/d to reach 400,000 bbl/d.

EIA highlighted that U.S. propane production growth continued to surpass consumption over several years resulting in propane inventory level of 75.8 million barrels in October 2012, the highest since 1998.  From 2012-2013, propane production rose by 110,000 bbl/d and consumption rose by 90,000 bbl/d.  High inventory and increased production pushed 2013 propane exports to 300,000 bbl/d, an increase of 130,000 bbl/d from 2012 levels.  Approximately 50 percent of  exports went to Central and South America and exports to Europe doubled from 2012 levels.  U.S. 2013 gasoline exports averaged 550,000 bbl/d, an increase of 45,000 bbl/d from 2012 levels, with December 2013 exports setting a monthly record of 770,000 bbl/d.

April 24, 2014 via Energy Solutions Forum.

Energy Solutions Forum is an energy policy research and data company based in New York City. Follow @EnergySolForum for policy research and stay plugged in with ESF Calendar, the industry’s go-to resource for energy business events in and around NYC.

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