U.S. petroleum product exports continued to grow in 2017 (3/21/2018)

U.S. exports of petroleum products continued to grow in 2017, increasing 555,000 barrels per day (b/d) from 2016 to reach 5.2 million b/d. Rising U.S. exports of petroleum products such as hydrocarbon gas liquids (including propane), distillate, and gasoline are largely the result of increased U.S. refinery runs, which continued to set record highs in 2017. Gross refinery inputs averaged 16.9 million b/d in 2017, but refinery utilization, while reaching 91%, did not set a new record because refinery capacity has increased in recent years. Strong global economic growth spurring overall demand, combined with market factors unique to each product, supported U.S. petroleum product exports. …