Bloomberg News

U.S. Refinery Processing Buoyed by Oil Product Exports, IEA Says

October 12, 2011

Oct. 12 (Bloomberg) -- U.S. crude refinery processing is being “supported” by strong demand for oil-product exports, the International Energy Agency said in its monthly report.

In July, the latest month for which detailed monthly data is available, total U.S. exports averaged a record 2.9 million barrels a day, 400,000 barrels a day more than in July last year, the IEA said today.

Of this finished oil products accounted for 85 percent, with gasoline blending components and other liquids the bulk of the remainder. Diesel and other distillate fuels are exported to Europe and Latin America, while gasoline is mostly sent to Mexico and other Latin American countries, the Paris-based agency said.

--Editors: Raj Rajendran, Rob Verdonck.

To contact the reporter on this story: Stephen Voss in London at sev@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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