U.S. petroleum product exports in H1 grow at lowest rate in 13 years: EIA

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HOUSTON, Oct. 24 (Xinhua) -- The U.S. petroleum products exports in the first half of 2019 had the slowest year-over-year growth rate for any half year in 13 years, the U.S. Energy Information Administration (EIA) said Thursday.

According to EIA, during this period the United States exported an average of 5.47 million barrels per day (b/d) of petroleum products, an increase of 19,000 b/d, or 0.3 percent from the first half of 2018.

EIA said two factors that likely contributed to lower exports were lower U.S. refinery runs in the first half of 2019 compared with the same period last year and slowing global economic growth partially casted by trade frictions between the United States and China.

Distillate remained the largest U.S. petroleum product export in the first half of 2019, averaging 1.3 million b/d, an increase of 60,000 b/d, or 5 percent compared with the first half of 2018.

Mexico was the largest destination for U.S. distillate exports during the first half of 2019. Aside from Mexico, U.S. distillate exports go mostly to Central and South America and Europe.

Propane was the second-largest U.S. petroleum product export in the first half of 2019, at 1.03 million b/d, an increase of 142,000 b/d, or 16 percent from the first half of 2018. Most U.S. exports of propane are destined for use as a petrochemical feedstock, mainly at facilities in Asia and Europe.

EIA forecasts that continued growth in petroleum product exports, albeit slower than in previous years, combined with increasing U.S. crude oil exports, will result in the United States becoming a total petroleum net exporter. According to the agency's recent Short-Term Energy Outlook released earlier this month, this change is likely to occur in the fourth quarter of 2019. Enditem

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