USO&G's global benes

Rising exports have thrown a lifeline to American shale producers - especially Gulf Coast refineries. The U.S. exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude in 2016 while importing heavy oils for its refineries. Gas exports were up nearly 30 percent; and tripling in the last decade. Record propane exports nixed the surplus, and returned stocks to average levels despite low heating demands. Exports are also starting to reverse a surplus of domestically refined gasoline and distillate fuel oil despite a weak demand. The majority of natural gas and other fuels have been sold to Latin America. As a result of the shale revolution, the U.S. has emerged as the top supplier in an increasingly integrated hemispheric fuel market – and based on the efficiency and competitiveness of its Gulf Coast refineries. (Source: Maritime Professional 03/21/17)