US crude exports are projected to hit a record high in April as Asian customers hunt for supplies to replace Middle Eastern oil lost because of the Iran war.
Oil research group Kpler estimates exports will jump by almost a third to 5.2mn barrels per day this month, up from 3.9mn b/d in March. Demand from Asian customers will rise by 82 per cent to 2.5mn b/d.
There are currently 68 empty tankers on their way to the US, according to Kpler, compared to 24 in the week before the war began on February 28. Last year the average was 27 tankers. Kpler bases its data on tanker bookings and expected arrivals.
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