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Oil Exports From U.S. Supertanker Port Crash to Zero From Record

Crude exports from Louisiana’s offshore supertanker port tumbled to zero as Asian buyers limited purchases to manage high inventories that threaten to overwhelm storage facilities. ....

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US crude stocks, refinery runs expected lower amid Texas deep freeze | Hellenic Shipping News Worldwide

US crude stocks, refinery runs expected lower amid Texas deep freeze
US crude oil inventory draws likely extended during the week ended Feb. 19 as severe weather across the southern states shut in production, according to analysts surveyed by S&P Global Platts.
Total commercial crude stocks are expected to have declined 4.8 million barrels to around 457 million barrels last week, analysts said Feb. 22, leaving them 1% behind the five-year average of US Energy Information Administration data. The drawdown would mark a fifth week of falling inventories and would open the first deficit to the five-year average since the week ended March 27.
The decline was likely predicated in large part on a sharp downturn in US crude production after a winter storm brought Arctic temperatures to Texas, disrupting power grids and freezing equipment. At peak on Feb. 17, around 3.8 million b/d of crude output was shut in by the storm, according to S&P Global Platts Analytics data, with out ....

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Asia Pushes U.S. Supertanker Port's Oil Shipments to Record

(Bloomberg) American oil exports from Louisiana’s offshore supertanker port jumped to a record in January as Asian buyers are stocking up U.S. crude for a post-pandemic rebound in fuel consumption.Eight vessels set sale from the Louisiana Offshore Oil Port, the nation’s only facility that can fully load supertankers, carrying nearly 15 million barrels of crude to South Korea, China and India, according to ship-tracking data compiled by Bloomberg. That’s double the previous month’s volume and an all-time high for LOOP, as the terminal is known.Asian refiner demand has provided major support to U.S. oil as the market rebounds from its worst-ever crash last year. Asia has recovered faster from the pandemic than the rest of the world, helping revive demand for crude and boost U.S. benchmark prices 13% so far this year.Total U.S. Gulf crude outflows to Asia rose to nearly 51 million barrels in January.Four South Korean processors including Hyundai Oilbank Co. a ....

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Asia pushes US supertanker port's oil shipments to record

(Feb 3): American oil exports from Louisiana’s offshore supertanker port jumped to a record in January as Asian buyers are stocking up U.S. crude for a post-pandemic rebound in fuel consumption.
Eight vessels set sale from the Louisiana Offshore Oil Port, the nation’s only facility that can fully load supertankers, carrying nearly 15 million barrels of crude to South Korea, China and India, according to ship-tracking data compiled by Bloomberg. That’s double the previous month’s volume and an all-time high for LOOP, as the terminal is known.
Asian refiner demand has provided major support to U.S. oil as the market rebounds from its worst-ever crash last year. Asia has recovered faster from the pandemic than the rest of the world, helping revive demand for crude and boost U.S. benchmark prices 13% so far this year. ....

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U.S. oil exports to Asia hit new record in January

U.S. oil exports to Asia hit new record in January
2/2/2021
(Bloomberg) American oil exports from Louisianaâs offshore supertanker port jumped to a record in January as Asian buyers are stocking up U.S. crude for a post-pandemic rebound in fuel consumption.
Eight vessels set sail from the Louisiana Offshore Oil Port, the nationâs only facility that can fully load supertankers, carrying nearly 15 million barrels of crude to South Korea, China and India, according to ship-tracking data compiled by Bloomberg. Thatâs double the previous monthâs volume and an all-time high for LOOP, as the terminal is known. ....

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