China Jumps to Number Two Importer of U.S. Crude

maritime-executive ^

[Sub-Driver]

China Jumps to Number Two Importer of U.S. Crude

By MarEx 2018-03-19 00:17:30

U.S. crude oil exports in 2017 were nearly double those of 2016, and China accounted for 202,000 b/d (20 percent) of the 527,000 b/d total increase.

As a result, China surpassed the U.K. and the Netherlands to become the second-largest importing destination. However, similar to previous years, Canada remained the top destination for U.S. crude oil exports. Canada’s share of total U.S. crude oil exports continued to decrease in 2017, down from 61 percent in 2016 to 29 percent.

U.S. crude was shipped to 37 destinations, compared with 27 in 2016. Many European nations are among the largest destinations for U.S. crude oil exports, including the U.K., Netherlands, Italy, France and Spain. India, which did not receive U.S. crude oil exports in 2016, received 22,000 b/d in 2017, tying with Spain as the 10th-largest destination.

U.S. crude oil exports grew to an average of 1.1 million barrels per day (b/d) in 2017, the second full year since restrictions on crude oil exports were removed. Increased production and expanded infrastructure made it possible.

Crude oil now makes up 18 percent of total U.S. petroleum exports, making it the third-largest petroleum export after hydrocarbon gas liquids (HGL), such as propane, and distillate fuel. Before the restrictions on domestic crude oil exports were lifted in December 2015, most of the growth in U.S. petroleum exports was petroleum products - mainly HGLs, distillate fuel, and motor gasoline. Previously, crude oil’s largest share of total U.S. petroleum exports was 13 percent in 1999, when total volumes of U.S. petroleum exports were less than 1.0 million b/d, which was much lower than the 6.3 million b/d total in 2017.

[Sub-Driver]

Wait till AlGore hears this.........

[Paladin2]

What is the net cross border traffic of crude and finished product between Canada and the US?

[DoughtyOne]

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Just $85.00 dollars to 95.00%

[DIRTYSECRET]

We got em by the abacus.

[Bogie]

https://finance.yahoo.com/news/china-waives-income-tax-foreign-021256165.html

[RockyTx]

my understanding is..

primitive Chinese refineries want the best crude oil.
and pay extra for it, thus explaining cross border trade
in both directions

or not

[ProtectOurFreedom]

We are a great colony supplying natural resources to the mother countries. It really bothers me we export coal, crude oil, logs, ores, etc. then we import products made from those resources.

[spokeshave]

Not so....a huge amount of raw materials plants for the plastics industry being built in usa

[cpdiii]

This article is based on real numbers that are totally misrepresented by choice but I suspect by an idiot.

When you read the article you have no idea whom is a net exporter or importer.

The Article is TOTAL CRAP not worthy of reading.

[SunkenCiv]

For that matter, anthracite coal exports to China (from areas formerly shut down for political reasons by the a-holes Soetero and Bubba) should rise and continue to rise. Thanks Sub-Driver.

[GOPJ]

We just have to be careful NOT to get into long term contracts... China will be needing our energy in increasing amounts from now until some ‘cold fusion’ type energy source is developed.

[hinckley buzzard]

there is often confusion in the media between crude and distillates. Both ways. I really think they are too dumb to know what they are talking about.

[cpdiii]

“there is often confusion in the media between crude and distillates. Both ways. I really think they are too dumb to know what they are talking about. “

The only real way to measure our energy efficiency is to consider everything we produce verses everything we export as measured in energy value of BTUs. This is to include oil, and distillates and coal. We are actually okay and getting better each day. We are a net importer of energy but this isn’t for long.