Europe’s Thirst for U.S. Crude To Stay High In 2023

Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident Europe is short of Russian oil, and we’ll see more U.S. crude there,” Colin Parfitt told Reuters. After a fairly steady rise from April 2021 onward, U.S. crude oil exports to Europe hit 1.69 million bpd in December, according to Kpler data cited by Reuters. It is the…