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Oil | Shipping

US crude exports face reversal of fortune amid COVID-19 pandemic

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Listen: US crude exports face reversal of fortune amid COVID-19 pandemic

With global demand destruction and COVID-19 continuing to impact US production, the expected trajectory of US crude exports is vastly different than just a few months ago. Before the pandemic, S&P Global Platts Analytics expected US crude exports to end 2020 at a run rate of nearly 4 million b/d, rising past 6 million b/d by the mid-2020s, but with demand loss for now putting a cap on WTI at about $40/b, Analytics now expects exports to fall below 2 million b/d by mid-2021.

S&P Global Platts editors Laura Huchzermeyer, Kristian Tialios and Matt Eversman look at the factors affecting US crude exports.

Platts Live