US crude oil exports are skyrocketing:



US Gulf Coast crude exports are on track to average a record 4.90 million barrels a day in April based on current loadings.

That would be up +23%, or +930,000 barrels per day since March, and up +30%, or +1.12 million barrels per day since February.

At the current pace, May exports will exceed 5.0 million barrels a day for the first time in history.

This comes as Asian buyers are securing US cargoes to offset the loss of Middle Eastern supply while flows from the Strait of Hormuz remain significantly limited.

For May alone, 28 supertankers are already lined up to carry US crude, compared to 5 typically booked at this point in a month.

Global demand for American oil has never been higher.

#OilEdgesHigher

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