Source: Barrel Blog | Mary Hogan, Associate editor | December 12, 2017
Crude imports into the Louisiana Offshore Oil Port increased by 4.628 million barrels in November, as refinery maintenance season came to a close and amid a relatively stable Dubai/WTI spread.
The move higher also comes as traders seek to draw down inventories to lower year-end tax bills.
In November, LOOP took in 11.256 million barrels, compared with only 6.628 million in October, according to US Customs data. Of November imported volumes, 9.331 million barrels were supplied by Middle East producers and 1.924 million barrels came from Latin American suppliers.
Increasing refinery run rates contributed to the uptick in imported barrels, as regional refiners completed fall maintenance periods.
To complete article, please follow this link to the Barrel Blog.