Texas Can't Keep All the U.S. Petroleum Exports to Itself
- In unusual role-reversal, East Coast ships out refined fuels
- Overall U.S. petroleum sent abroad hits new weekly record
Photographer: Jasper Juinen/Bloomberg
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It would appear that the net-importing U.S. East Coast has a little bit of Texas export envy.
U.S. exports of middle distillates like ultra-low sulfur diesel surged to a record 1.72 million barrels a day last week -- thanks in part to BP Plc’s rare exports from the U.S. Atlantic Coast. At the same, crude exports that primarily flow from Texas’ Gulf Coast rose to a new high of 2.33 million. One comment from the oil trading edits desk says it all: “Are the exports real?”