"Did Trump Anticipate This?" Export Orders Surge Amid War... Record-High Export Volume

Asia and Europe Ramp Up Imports of U.S. Crude Oil and LNG
"Sustainability After the War Is Limited"

After the closure of the Strait of Hormuz due to the Middle East war, U.S. crude oil and petroleum product exports reached an all-time high.

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The Wall Street Journal (WSJ), a U.S. daily, reported on the 24th (local time) that Asia and Europe, which have seen their supply of Middle Eastern energy imports cut off, are now purchasing U.S. crude oil and liquefied natural gas (LNG).

According to the U.S. Energy Information Administration (EIA), last week, the average daily export volume of U.S. crude oil and petroleum products reached 12.9 million barrels, marking a record high. Shipping data provider Kpler reported that U.S. exports of crude oil and LNG to Asia in the past month and this month increased by about 30% compared to the same period last year.

This is because, with the closure of the Strait of Hormuz blocking the purchase of Middle Eastern energy, Asian countries that were highly dependent on Middle Eastern sources had no choice but to buy U.S. energy to fill the shortfall.

However, experts believe it will be difficult for this trend to continue after the war. This is because refineries in Asian countries are designed specifically for Middle Eastern crude oil, presenting limitations in processing U.S. crude. In particular, when U.S. crude, which is less dense than Middle Eastern crude, is processed at the same facilities, efficiency drops, and refurbishing the infrastructure would require enormous costs.

Parul Bakshi, a researcher at the Oxford Institute for Energy Studies, said, "Fully overhauling Asia's refineries would incur massive costs, would take several months just for the design, and could require years to reach full operation."

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