US oil exports expected to double by 2022

Rig Zone:
The U.S. could see its crude oil exports nearly double by 2022, according to energy research firm Rystad Energy.

Rystad forecasts that U.S. crude exports could increase from current levels of 2.9 million barrels per day (bpd) to nearly six million bpd by 2022. This is based off the nation’s expected production increase of 1.2 million bpd year-over-year in 2020 and domestic refineries at capacity to absorb shale growth.

“Crude exports will grow on the back of new infrastructure coming online in Corpus Christi, Texas, and as international crude buyers ramp up efforts to diversify their import sources after the attacks on oil facilities in Saudi Arabia and overall rising tensions in the Middle East,” said Paola Rodriguez-Masiu, a senior analyst on Rystad’s oil market team.
...

“This surge in crude shipments from the U.S. will be made possible by a flurry of new pipeline and export terminal infrastructure coming online in the coming years,” Rodriguez-Masiu said.
Some of those pipelines are being completed ahead of schedule.  More infracture is needed for storage facilities and offshore terminals.  Several of such projects have been planned and are seeking government approval.  US sellers are also expanding their Asian trade with countries other than China.

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