Arrivals this month could be below 21mn b/d, 1mn b/d lower than a year ago, consultancy Oil Movements says. This reflects higher US shale oil output rather than lower refiner demand. US imports of 7.7mn b/d in March were the lowest in 15 years. Imports from Canada are rising, but supplies from other parts of the world are down to 5mn b/d from 8mn b/d five years ago. Light sweet grades from Africa and the North Sea have borne the brunt of the fall, but the Gulf coast still needs heavy Mideast Gulf crudes. Saudi imports fell early this year after a dip in westbound liftings, but preliminary EIA data put March imports from the country at 1.2mn b/d, the highest since October.
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