U.S. refiners' Mexican crude imports hit eight-year high [Seeking Alpha]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Seeking Alpha
Energy|On the MoveU.S. refiners' Mexican crude imports hit eight-year highJul. 9, 2020 11:59 AM ETLyondellBasell Industries N.V. (LYB)Carl SurranU.S. crude oil imports from Mexicosurged to more than eight year highs last weekU.S. buyers increased their purchases by 834K bbl/day to ~1.3M bbl/day in the week to July 3, the highest since February 2012.Gulf Coast refiners including Lyondell Basell (-3.9%VLO-4.7%RDS.A-3.8%MPC-2.6%The crude was delivered to 10 different terminals, with more than half the volumes going to Shell's Deer Park and Valero's Port Arthur refineries, according to vessel tracking firm ClipperData.Mexico has resisted deep production cuts despite the plunge in global oil demand due to COVID-19, and agreed at OPEC+ meetings earlier this year tosmaller cuts than other members:EWWMXFSee all stocks on the move »Now read:It May Get Worse, But Shell's On The Right Track »
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