US refined products exports are booming… Bloomberg

Yes, Andy talked about this in our last podcast… Here is Bloomberg:

“U.S. companies last year exported a record 3 million barrels a day of refined products, more than double the 1.3 million barrels a day shipped a decade ago, according to data from the Energy Information Administration. Gasoline led the surge, with exports hitting an all-time high of almost 1 million barrels a day in December, up ten-fold from a decade ago.”

Here are total product exports:

Here are gasoline exports to Mexico:

Andy also mentioned in last month’s podcast that increased exports to Mexico were due to refinery issues in Mexico rather than a sharp increase in demand… Here is Bloomberg:

“While Mexico is an example of the strong overseas demand for U.S. fuels, it also represents the danger American refiners face longer term. Mexican fuel demand isn’t booming, which means U.S. refiners are merely filling a gap left by domestic inefficiency.

If Mexico’s own refining plants make some recoveries, the U.S. business there could end as quickly as it started.”