Insight

Implications of changing US crude export policy

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Report summary

Growth in US oil production continues to impress and with that growth comes increasing concern the US refining system might not be capable of processing all the lighter oil volumes. Thus, there is increasing interest among both the oil industry and policymakers as to the merits of a change of US crude oil export policy. This insight examines a potential policy shift and how it might impact US export crude oil flows and differentials.

What's included

This report contains

  • Document

    Implications of changing US crude export policy

    PDF 871.98 KB

Table of contents

  • Summary
  • The types of US crude oil the world may want
  • Where potential export markets might be
  • Markets offering the better netbacks
  • Louisiana Light Sweet
  • Condensate
  • Mars
  • Conclusions

Tables and charts

This report includes 8 images and tables including:

Images

  • Figure 1 – US crude oil assays
  • Figure 2 – Shipping costs by route to various refining centres
  • Figure 3 – Light crude oil demand for Europe and Asia
  • Figure 4 – Medium-sour crude oil demand for Europe and Asia
  • Figure 5 – LLS netbacks from Europe and Asia (2020)
  • Figure 6 – Range of Brent-LLS differential (2020)
  • Figure 7 – Eagle Ford condensate netbacks from Europe and Asia ($/bbl)
  • Figure 8 – Mars netbacks from Europe and Asia ($/bbl)

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