<article><p class="lead">US crude exports fell by about 10pc in October with China as the top buyer for the sixth consecutive month.</p><p>Total US crude exports averaged 2.91mn b/d in October, down from 3.24mn b/d in September, according to trade data released today by the US Census Bureau. </p><p>China was the top destination for US crude loaded in October taking about 679,000 b/d. Canada was the second top destination at about 407,000 b/d, and the Netherlands was third with 258,000 b/d. India came in fourth taking about 245,000 b/d of US crude. The exports to India included about 66,000 b/d of heavier crude, possibly Western Canadian Select (WCS) or Western Canadian heavy sour Cold Lake. </p><p>Total US crude exports in October were down from 3.4mn b/d a year earlier.</p><p>China was the top destination for US crude exports in May-October in part because Beijing has leaned on state-owned enterprises to keep buying US crude in compliance with the countries' "phase one" trade deal signed in January. This commits China to buying $69bn of US energy commodities in 2020-21.</p><p>The future of the trade deal is uncertain as a new US administration is set to take over next month. Neither president-elect Joe Biden nor his team has given a clean signal on the intention for the deal which is set to expire in late 2021.</p><p>Since the US lifted 40-year-old restrictions on most oil exports in December 2015, US crude has been exported to countries around the globe.</p><p>For the full year of 2019, US crude exports averaged 2.98mn b/d, an annual record.</p><p>The monthly trade data comprises several categories of oil, including crude under 25°API, crude that is 25°API or higher, and condensate derived wholly from natural gas.</p><p class="bylines">By Eunice Bridges </p></article>
