US Fuel Oil and Dirty Feedstocks Exports Slump in Q1 2021
Authors Vortexa Market Research Team
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US fuel oil and other dirty feedstock exports fell to 114,000 b/d in Q1 2021, down by 30% from the previous quarter and 145,000 b/d from a year ago. Vortexa data shows the decline in US exports has impacted buyers in the Caribbean the most, while Singapore and India have been relatively unscathed from a lack of US supply.
The US is a major buyer in the global fuel oil and dirty feedstocks market in a post IMO 2020 world, but even before then, the nation was and remains an exporter of these products to Caribbean and Southeast Asian buyers.
However with the crude runs at the key US refinery hub of PADD 3 plummeting during Q1 this year, so too has the region’s exports of fuel oil, VGO and cycle oils for the international market.