EIA: U.S. Waterborne Refined Exports Up 10% YoY in January

SECAUCUS, NJ (DTN) – U.S. exports of refined petroleum products on clean tankers grew by about 10% year-on-year in January to 6.3 million bpd, driven by higher demand for diesel, gasoline and liquefied petroleum gases as inventories remained robust.

Total petroleum product exports, including heavier refined fuels, averaged 7 million bpd last month, up by about 8%, or 540,000 bpd, from levels seen a year ago.

Diesel exports to Europe more than doubled year-on-year to 396,000 bpd in January as the region faced heating needs and supply constraints. Structural challenges in the European market supported these higher volumes, which pushed U.S. diesel exports to Europe above those headed to South America.

Gasoline exports increased by about 55,000 bpd, or 7%, from a year ago.

LPG shipments last month also climbed by about 7%, or 210,000 bpd, year-on-year as U.S. Gulf Coast inventories stayed above the five-year high this winter.

Strong refinery runs supported by European diesel demand led to a 60,000 bpd, or 78%, year-on-year surge in domestic jet fuel exports.