U.S. exports of petroleum products increased 10% year-over-year in 2013, the Energy Information Administration (EIA) reported today. Average exports of distillate fuels surpassed 1.1 million barrels per day, and distillate fuel production grew by 160,000 barrels per day year-over-year. December was a record-breaking month for petroleum product exports, which surpassed 4 million barrels per day in a single month for the first time.
The biggest beneficiaries of the export growth were Central and South America, though exports to Europe doubled. EIA notes that while the U.S. is still importing 2.1 million barrels per day of petroleum products, imports are on the decline. The East Coast will likely rely on Europe and Canada for much of its gasoline until infrastructure from domestic exporting regions such as the Gulf Coast is expanded.
