More and more West Texas crude heading Down Under

Nov 21 14:11 2019 Print This Article

The US is quickly becoming a top supplier of crude for Australia, with the first full laden VLCC with WTI en route to Australia.

Like a microcosm of the overall US crude oil export growth phenomenon, Australian refineries are increasingly importing crude oil from the US, quickly making the it one of the main suppliers for the island continent.

Through July this year, Australia imported 75.55 million barrels of crude, with just 1.83 million of those barrels, or 2.4%, coming from the US.

But the latest Australian petroleum statistics from the Australian government’s Department of the Environment and Energy shows US crude inflows surged to account for almost 23% of total imports in August in September. In barrel terms, the country imported over 18.77 million barrels in August and September, with 4.26 million barrels of US crude.

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The Barrel

S&P Global Platts provides market insights so people can make more informed trading and business decisions.. They're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to their expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts provides critical information for the commodities & energy markets to make physical commodity markets more transparent and efficient. S&P Global Platts blog, The Barrel, provides the essential perspective on global commodities.

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