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Marathon, Valero raise U.S. crude imports in July as COVID-19 disrupts flows

Coronavirus 430 Energy - Conventional 384 Energy - Crude Oil 264 U.S. 4634

U.S. oil refiners have struggled to balance supply and demand during COVID-19 which – when added to the earlier OPEC-Russia price war and the U.S.-China phase 1 trade deal – means flows of crude oil have been disrupted. U.S. imports of crude oil increased by 13.7% sequentially in June while exports fell by 9.0%. The U.S. is far from being oil-independent with imports being double exports in the 12 months to June 30. Seaborne import data for July suggests shipments rose by 7.0% sequentially in July versus June, led by a 187% surge in shipments linked to Marathon and a 47.7% increase in im...

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