U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent...
HOUSTON/NEW YORK - U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure additions.
The infrastructure boom at Corpus Christi helped push crude exports there to a weekly record of 1.59 million barrels per day in late December, more than doubling levels that held for the first eight months of last year, and above Houston’s 2019 peak of 1.36 million bpd, according to vessel-tracking firm ClipperData.
“Those numbers are truly astonishing, and at times, Corpus volumes have accounted for more than half of all crude exports moving out of the U.S. on a weekly basis,” said John Zanner, senior strategist at Uplift Energy Strategy. Analysts had expected a crude bottleneck in the Permian Basin to shift to the Gulf Coast as three new pipelines opened last year. New flows out of the nation’s biggest oil field were expected to overwhelm export capacity in Corpus Christi and weigh on regional prices.
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