Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as refining capacity outages limit operators’ ability to meet demand and the US government’s Strategic Petroleum Reserve (SPR) release boosts supply, Rystad Energy research shows. More than 95% of all US crude exports transit through the Gulf ports of Corpus Christi, Houston, Beaumont, Port Arthur and Louisiana. The Biden Administration is exploring ways to rein in gasoline prices for US consumers and is reportedly considering a full or partial ban on crude exports, but many industry leaders and politicians argue such a move would not necessarily reduce prices and would hurt key allies. The government’s unprecedented support for the domestic crude system has accelerated US supply, with levels expected to hit 13 million bpd this summer for the first time since November […]