Oil Exports From U.S. Supertanker Port Crash to Zero From Record
- No shipments from Louisiana facility for first time since 2019
- Asian refiners may be awaiting return of more OPEC supply
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Crude exports from Louisiana’s offshore supertanker port tumbled to zero as Asian buyers limited purchases to manage high inventories that threaten to overwhelm storage facilities.
The lack of shipments in February from the Louisiana Offshore Oil Port -- for the first time in nearly two years -- is a stark contrast from January when the facility sent out a record of nearly 15 million barrels of domestic crude to buyers in China, South Korea and India, data compiled by Bloomberg show.