Daily Energy Report

Europe’s petroleum product imports increase, Iran exports drop, More LNG ships hurt rates, Record US ethane, Pemex a problem, Net Zero fantasy, Kuwait LNG & flaring, Berkeley is bonkers, and more.

Chart of the Day: The US and Saudi Arabia are the Largest Exporters of Petroleum Products to Europe. 

Summary

Figure (1) above shows trends in Europe’s imports for petroleum products by source. It shows that these imports are dominated by the US, Saudi Arabia, India, and Kuwait. We explain below why imports of petroleum products have been increasing since the Russian invasion of Ukraine in February of 2022. 

EOA’s Main Takeaway