U.S. media: U.S. crude oil exports reached a record high of 5.2 million barrels per day in April, surging over 30% from the pre-war level of 3.9 million barrels per day in February, due to the Iran conflict leading to the blockade of the Strait of Hormuz, forcing buyers in Asia and other regions to abandon Middle Eastern supplies and turn instead to the U.S. Gulf Coast.
The Port of Corpus Christi, ranking as the world's third-largest petroleum export terminal, recorded its busiest month in history in March, with vessel traffic exceeding 240 ships in the first quarter, and crude exports rising from 2.2 million barrels per day last year to approximately 2.5 million barrels per day—currently accounting for about half of total U.S. crude oil exports.
However, U.S. light sweet crude cannot fully replace Middle Eastern heavy sour crude, and limited terminal capacity caps exports at around 5 million barrels per day or slightly above, meaning the supply gap left by the Middle East cannot be entirely filled.
Original source: toutiao.com/article/1864184920590407/
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