US petroleum product exports hit all-time high in 2018: EIA

12:04 | 01/05/2019 Global Economy

US exports of total petroleum products reached a record high in 2018, according to a report released by the US Energy Information Administration (EIA) on April 23.

us petroleum product exports hit all time high in 2018 eia
Illustrative image

EIA said US exports of total petroleum products reached an annual average of 5.6 million barrels per day in 2018, an increase of 366,000 barrels per day from the previous year.

According to EIA, total US petroleum product exports in 2018 set a record high for the 16th consecutive year.

EIA data showed that the three largest petroleum product exports in 2018 were distillate, propane, and motor gasoline. Last year, motor gasoline and propane exports reached record highs, while exports of distillate reached their second-highest level.

However, distillate remained the most exported petroleum product in 2018. According to EIA, the top recipients of US distillate are Mexico and Brazil.

EIA said the continuing export increase resulted from higher crude oil production as well as more gross inputs into refineries.

Even with high levels of domestic demand, record-high levels of US crude oil production and refining helped refiners export large volumes of petroleum products, said EIA.

Theo NDO/Xinhua