U.S. exports of distillate fuel oil have been basically flat since 2013, ending years of strong growth, as U.S. refiners face stiff competition from big new refineries in Asia and the Middle East and sluggish demand. U.S. distillate exports increased at a compound annual rate of just 2.3 percent in 2014/15 down from a compound annual rate of nearly 30 percent between 2004 and 2013. Exports amounted to 1.19 million barrels per day in 2015, little changed from 1.13 million in 2013, according to the U.S. Energy Information Administration ( tmsnrt.rs/1UBGo1Y ). By contrast, over the previous nine years, exports increased 10-fold, from just 110,000 barrels per day in 2004 ( tmsnrt.rs/1UBGs1Y ). The stagnation in distillate exports reflects sluggish world trade, the slump in […]