While Navarik data reports the total weekly volume of Jet fuel exported from PADD 3 increased slightly for the week ended May 19, cumulative May volumes continue to lag greatly behind both April 2017 and May 2016 figures. The first three weeks of May have seen a 58% reduction in Jet exports compared to the first three weeks of April, and a 46% reduction compared to the same three weeks of May 2016. The destination regions which have most contributed to the decline are South America and Mexico, falling 450,000 bbl and 415,000 bbl over April volumes respectively. Based on Navarik’s historical data and the recent increase in PADD 3 Jet production, we expect export volumes to return to higher levels in the near future.
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