Crude imports averaged 6.5 million barrels per day (bpd) during the reporting week, marking an increase of 269,000 bpd from the previous week. This is in addition to domestic oil production levels of 13.4 million bpd.
The US National Retail Federation (NRF) has raised its forecast for ocean import volumes through the end of the year, signalling a significant uptick in activity at US ports. According to the updated outlook, the NRF now anticipates a 13% year-over-year increase