Trends in U.S. crude oil and petroleum product exports

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1 Trends in U.S. crude oil and petroleum product exports For ENERCOM Oil & Gas Conference August 21, 218 Denver, Colorado By T. Mason Hamilton, Petroleum Markets Analyst, Office of Energy Markets and Financial Analysis U.S. Energy Information Administration Independent Statistics & Analysis

2 Key Takeaways The United States is a net importer of petroleum The decrease in U.S. net petroleum imports is because of increasing exports of petroleum products U.S. crude oil exports have increased but face infrastructure limitations Distillate is the most widely exported petroleum product from the United States More than half of U.S. motor gasoline exports go to Mexico Propane exports mainly go to supply petrochemical demand in Asia 2

3 The United States is a net importer of petroleum U.S. total petroleum trade (crude oil and petroleum products) Million barrels per day imports net -5 exports

4 Decrease in U.S. petroleum net imports is because of increased product exports U.S. total petroleum trade (crude oil and petroleum products) Million barrels per day petroleum product imports crude oil imports net crude oil exports petroleum product exports

5 Exports of Hydrocarbon Gas Liquids and Distillate are the largest U.S. petroleum exports Total U.S. petroleum exports Million barrels per day share of total petroleum exports 6 5 5% residual fuel 9% petroleum coke 12% other liquids % 18% motor gasoline crude oil % distillate % hydrocarbon gas liquids 5

6 Prior to 217, product exports were responsible for most of the growth in U.S. petroleum exports Year-over-year growth in crude and petroleum product exports Crude oil Motor gasoline Distillate Hydrocarbon gas liquids Other liquids

7 The current period of U.S. crude oil exports is unlike anything seen in historical data U.S. Crude oil exports 12 1 crude oil exports 217: 1.1 million b/d crude oil exports 1938: 21, b/d crude oil exports 198: 287, b/d year-over-year change in crude oil exports 217: 527, b/d -2 7

8 Canada, China, and Europe are the top destinations for U.S. crude oil exports U.S. crude oil export destination (217) Million barrels per day Canada China United Kingdom Netherlands South Korea Italy France Singapore Japan India Spain Colombia Bahama Islands Malaysia Curacao rest of world 4% 2.7% 2.6% 2.5% 2.% 2.% 1.9% 1.5% 1.4% 1.4% 5% 8% 8% 9% 2% percent of U.S. total Source: 29% 8

9 U.S. crude oil exports face port and infrastructure limitations 9

10 U.S. Crude oil exports continue to increase U.S. crude oil exports 2,5 U.S. crude oil export destinations (year to date, May 218) China 21% 2, Canada 2% 1,5 1, 217 annual average crude oil exports: 1.1 million b/d Italy United Kingdom 9% 9% 5 Netherlands 7% rest of world 34%

11 Differences in PADD crude oil trade balances are hidden in U.S. numbers U.S. Gulf Coast and Midwest crude oil trade million barrels per day Gulf Coast (PADD 3) Midwest (PADD 2) net imports net exports 11

12 U.S. distillate exports mostly go to Mexico and Central and South American destinations U.S. distillate exports U.S. distillate export destinations (year to date, May 218) 1,8 1,6 1,4 1,2 1, Mexico Brazil Chile Peru Panama rest of world 25% 11% 1% 6% 4% 44%

13 Distillate fuel oil is the most widely exported petroleum product from the United States Destinations receiving more than 1, b/d of distillate annually from the United States Number of destinations

14 EIA now publishes export data by PADD and by destination East Coast (PADD 1) distillate exports 25 2 East Coast (PADD 1) distillate exports West Coast (PADD 5) distillate exports Netherlands Canada Export destinations (year to date, May 218) East Coast West Coast 33% 25% Mexico Singapore 16% 31% 15 Brazil 16% Chile 16% 1 Paraguay 7% Canada 14% 5 Peru 5% Malaysia 7% rest of world 14% rest of world 15%

15 More than half of U.S. motor gasoline exports go to Mexico U.S. motor gasoline exports U.S. motor gasoline export destinations (year to date, May 218) 1,4 Mexico 55% 1,2 1, 8 Canada Brazil 7% 5% 6 Venezuela 4% Guatemala rest of world 3% 27%

16 The United States is on track to become a year-round net gasoline exporter U.S. total motor gasoline trade imports net exports

17 The balance of U.S. net gasoline imports or exports is between East Coast imports and Gulf Coast exports Total motor gasoline trade by PADD 15 1 East Coast (PADD 1) West Coast (PADD 5) Midwest (PADD 2) Rocky Mountain (PADD 4) Gulf Coast (PADD 3) net imports net exports

18 U.S. Propane exports largely destined for petrochemical facilities in Asia U.S. propane exports 1,2 U.S. propane export destinations (year to date, May 218) Japan 2% 1, Mexico Korea China Singapore 14% 9% 9% 7% rest of world 41%

19 HGL exports, supply, and demand changes will become increasingly important to global balances going forward HGL trade Million barrels per day.5 net imports. net exports propane net ethane natural gasoline butanes

20 Thank you For more information Subject matter experts for this presentation: T. Mason Hamilton, Petroleum Markets Analyst, Petroleum Markets Analysis Team, Office of Energy Markets and Financial Analysis

21 For more information U.S. Energy Information Administration home page This Week in Petroleum Today in Energy Annual Energy Outlook Short-Term Energy Outlook International Energy Outlook State Energy Profiles Drilling Productivity Report 21

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