en.Wedoany.com Reported - According to data from the Baltic and International Maritime Council (BIMCO), crude oil exports from the Americas reached a record 14.5 million barrels per day (bpd) in May, surpassing April's 13.8 million bpd. This represents a 40% increase compared to May 2025. In the three months since the outbreak of conflict between Iran and the United States and Israel, American crude oil exports have risen 23% year-on-year.
A BIMCO report indicates that from March to May, overall crude oil exports from countries outside the Persian Gulf region increased by 9% year-on-year, with the Americas contributing 91% of this growth. The United States led the increase, with exports rising 32% compared to the same period in 2025 and 30% higher than in January-February. BIMCO's Chief Shipping Analyst, Niels Rasmussen, noted that Venezuela experienced the fastest growth, while Brazil, Canada, and Guyana also boosted exports. Drivers include increased U.S. shale oil production, eased sanctions on Venezuelan exports, the commissioning of a new FPSO (Floating Production Storage and Offloading) unit in Brazil, and the start of production at Guyana's Yellowtail field in August 2025.
Asia replaces North America as primary destination.
In May, East Asia surpassed North America as the top destination for American crude oil exports. BIMCO states this is the third time this has occurred since 2023. Rasmussen pointed out that the Asian market absorbed nearly 50% of the year-on-year growth from March to May, with shipments to Asia rising from 4.1 million bpd in the same period of 2025 to 5.4 million bpd this year. Aframax/LR2 tankers were the main beneficiaries, handling nearly half of the total growth in volume from March to May and absorbing most of the additional cargoes destined for Asia. VLCCs (Very Large Crude Carriers) and Suezmax tankers each accounted for about 25% of the growth.
Freight rates for Aframax/LR2 tankers departing from the Americas have recently declined. Citing data from S&P Global Energy, BIMCO reports that current rates are below February levels. An increased number of LR2 tankers entering crude oil transport has exacerbated this trend, with 85% of the growth in this vessel type's transport volume from March to May completed by LR2 product tankers operating in the crude oil market. Rasmussen concluded that during the actual closure of the Strait of Hormuz, sustained high export volumes from the Americas help alleviate the global oil supply gap; once Persian Gulf exports normalize, the high export levels from the Americas may be sufficient to meet global demand growth and necessary inventory replenishment.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
