exports shift towards Asia storage, europe

摘要

US crude exports are shifting into storage in Asia-Pacifc and refneries in Europe as the coronavirus sharply reduces demand in China and South Korea. Nearly 500,000 b/d of crude left the US in February for Singapore, Malaysia and Indonesia, preliminary data from oil analytics frm Vortexa show (see graph). This is more than four times the 120,000 b/d of US crude that loaded to go to the same countries in the fourth quarter of last year. All three countries have exten- sive storage facilities, in addition to their refning bases.