U.S. Refiners Open Export Spigot to Meet Latin American Need
- Gasoline, distillate and propane shipments climb to records
- Gulf Coast refiners process more crude than ever before
Emissions rise from the Monroe Energy LLC Trainer Refinery in Marcus Hook, Pennsylvania, U.S., on Friday, April 8, 2016.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
U.S. refiners exported record amounts of oil products last week, taking market share from struggling competitors in Mexico and the Caribbean.
Almost 4 million barrels a day of gasoline, distillates like diesel and heating oil, and propane left the country as refiners in Texas and Louisiana processed the most crude in at least 24 years. Demand has grown this year as competitors in Latin America sputtered out with maintenance issues, Andy Lipow, president of Lipow Oil Associates LLC, said by phone from Houston.