Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

US crude export outlook falls 300,000 b/d for 2020 on Gulf Coast refiner demand

LNG | Natural Gas | Natural Gas (North American) | Oil | Crude Oil | Oil Risk

A national climate policy or US energy dominance?

Oil

Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Natural Gas | Oil | Crude Oil

Uptick in volatility as Dubai crude futures spreads strengthen amid Rosneft sanctions

US crude export outlook falls 300,000 b/d for 2020 on Gulf Coast refiner demand

Highlights

Smaller-than-expected sour crude discount to curb USGC imports

US crude exports to rise 500,000 b/d to 4.1 million b/d in 2021

Permian pipelines can handle expected 2020 production growth

Washington — US crude oil exports will average 3.6 million b/d in 2020, a growth of 650,000 b/d from 2019 but 300,000 b/d lower than previously expected on slower production growth and as Gulf Coast refiners use more domestic, light, sweet grades, according to the latest outlook from S&P Global Platts Analytics.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Warm winter weather and weaker global demand have resulted in less dramatic discounting of heavy, sour crudes than originally expected, according to Platts Analytics. This has reduced the expectations for US Gulf Coast refineries to max out coking units and import more heavy crude, which would have displaced US light, sweet crude.

Platts Analytics' team lead of North American oil analytics Jenna Delaney said lower expectations for refinery slate-switching led to the 300,000 b/d drop in projected US crude exports for 2020.

Platts Analytics expects US crude exports to rise another 500,000 b/d next year to average 4.1 million b/d.

Director of oil research for Morningstar Commodities, Sandy Fielden, said he expects all new US production to be exported this year, or about 1 million b/d for total US crude exports of 4 million b/d.

The US exported an average of 2.9 million b/d in 2019, up 45% from 2018, according to year-end data released Wednesday by the US Census Bureau.

INFRASTRUCTURE BUILD-OUT

Platts Analytics expects pipeline and export capacity to be sufficient to handle additional Permian production this year after midstream companies added more than 2 million b/d of capacity last year.

Ports are still being expanded to move more crude exports, more quickly, with several deepwater terminals proposing to directly load VLCCs supertankers.

Four of the projects have filed federal applications: Trafigura's Texas Gulf Terminal and Phillips 66's Bluewater Texas Terminal off Corpus Christi; Enterprise's Sea Port Oil Terminal off Houston; and Sentinel Midstream's Texas GulfLink off Freeport. They estimate starting service in 2021 or 2022, although not all are expected to be built. Enbridge withdrew its Texas COLT proposal off Freeport to focus on jointly developing SPOT with Enterprise.

The Louisiana Offshore Oil Port is the only Gulf of Mexico port able to load VLCCs fully without lightering from smaller vessels. It started exporting crude in February 2018.

Platts Analytics expects year-on-year US shale growth to fall to 800,000 b/d in 2020, from 1.2 million b/d in 2019.

The US Energy Information Administration will update its forecast for US oil production growth later Tuesday in the Short-Term Energy Outlook.

Inaugural Infrastructure Summit | May 18-20, 2020 | Washington, DC

This unique event brings together the leading players involved in infrastructure from the public and private sectors, finance, investment, government and industry. Register your interest to be kept up-to-date as the program develops.

Find out more