US crude oil exports will average 3.6 million b/d in 2020, a growth of 650,000 b/d from 2019 but 300,000 b/d lower than previously expected on slower production growth and as Gulf Coast refiners use more domestic, light, sweet grades, according to the latest outlook from S&P Global Platts Analytics. Warm winter weather and weaker global demand have resulted in less dramatic discounting of heavy, sour crudes than originally expected, according to Platts Analytics. This has reduced the expectations for US Gulf Coast refineries to max out coking units and import more heavy crude, which would have displaced US light, sweet crude. Platts Analytics’ team […]