Westbound crude exports from Algeria fell in the first quarter compared with a year earlier, as poor refining margins forced US refiners to cut runs. State-run Sonatrach has been sending greater amounts of its main export grade, light sweet Saharan Blend, to Asia-Pacific to offset falling US and European demand. US sales of Saharan Blend fell to 380,000 b/d in the first quarter, 27pc lower than a year earlier (see table). Narrow refining margins depressed demand for Saharan Blend. March US exports fell to 440,000 b/d, compared with 616,000 b/d in March 2007, as US gasoline crack spreads turned negative, partly on expectations of a well supplied summer market (AGM, 7 April, p4).
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