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- U.S exports of total petroleum products hit a record high in 2018, averaging 5.6 million barrels per day, which was up 366,000 bpd from a year earlier.
- The three largest product exports were distillates, propane and motor gasoline.
- Mexico was the single largest buyer of distillates and gasoline, while Japan was the largest buyer of propane.
Market Movers
• Petrobras (NYSE: PBR) plans on raising $20 billion through the sale of eight of its refineries, according to Reuters.
• Occidental Petroleum (NYSE: OXY) was cut to Hold by Jefferies, which cited “risky” battle for Anadarko Petroleum (NYSE: APC). Chevron (NYSE: CVX) is also seeking to buy Anadarko.
• Diamond Offshore (NYSE: DO) saw its share price sink more than 6 percent on Monday after reporting first quarter earnings, which saw a 21 percent year-on-year decline in revenues.
Tuesday, April 30, 2019
Oil rebounded on Tuesday after…
