Slide 20 of 25
Notes:
- Another interesting change is the increase in exports that began this year. Up until this year, exports have run about about 2% of demand or 25 thousand barrels per day. But they may be moving to about 50 thousand barrels per year.
- This is partially because our ability to export has increased. We now have expanded waterborne export capacity in Houston and a small pipeline that began operation to move product from the U.S. to Mexico (our biggest export market).
- Mexico has been the largest market for exports. But South American countries sometimes find US product attractive. in March, we saw large batches of exports go to Brazil and Chile. In 1995, Ecuador took some cargoes in one month.
- It still is an open question as to how exports will behave in the future. But the exports mainly affect the Gulf Coast petrochemical markets.
