Distillates and Jet Fuel Push U.S. Petroleum Exports to Record High in 2024

U.S. petroleum product exports reached a new high in 2024, averaging 6.6 million barrels per day (BPD) across the year, an increase of nearly 500,000 BPD compared to 2023. According to the U.S. Energy Information Administration (EIA),the growth was primarily driven by higher exports of distillate fuel oil (sold mainly as diesel) and jet fuel, while gasoline exports slightly declined. On the import side, the U.S. reduced its intake of major fuels by 210,000 BPD.

Distillate fuel remains the largest transportation fuel exported from the U.S. and the second-largest petroleum product export overall, behind propane. EIA data shows that in 2024, distillate exports climbed by 182,000 BPD to reach 1.30 million BPD. While this figure fell short of the 2017 record of 1.38 million BPD, it reflects a strong rebound in global demand.

Mexico led all destinations for U.S. distillate fuel, importing 272,000 BPD, or 21% of total U.S. distillate exports. Other top destinations included Chile (110,000 BPD), the Netherlands (103,000 BPD), the UK (81,000 BPD), and Peru (74,000 BPD), according to the EIA.

Brazil, which had been the second-largest destination for U.S. distillate exports over the past decade, imported only 41,000 BPD in 2024. The EIA noted that this decrease reflects Brazil's shift toward discounted Russian distillate, a move made possible after European sanctions displaced Russian supplies from the continent. As a result, European countries like the Netherlands and the UK increased their imports of U.S. distillate. The Netherlands jumped from importing just 12,000 BPD in 2021 to 103,000 BPD in 2024, while UK volumes rose from 23,000 BPD to 81,000 BPD during the same period.

Jet Fuel Exports Rebound

Jet fuel exports also gained momentum in 2024, increasing to 209,000 BPD, according to the EIA. While still below pre-pandemic levels, this marks a continued recovery in aviation fuel demand. As with other U.S. petroleum product exports, Mexico was the largest single buyer, receiving 63,000 BPD. Other jet fuel destinations were concentrated in the Americas, a trend consistent with U.S. trade routes and regional aviation demand.

Gasoline Exports Slightly Down

In contrast to distillate and jet fuel, U.S. gasoline exports declined slightly in 2024. The EIA reported that total gasoline exports, including both finished motor gasoline and blending components, averaged 877,000 BPD, down 24,000 BPD from 2023. Mexico remained the top destination, receiving 495,000 BPD, more than half of the total U.S. gasoline exports. Other significant markets included Guatemala, Colombia, Canada, and Panama.

Shifting Global Demand Patterns

The shifting landscape of U.S. fuel exports reflects how geopolitical changes and trade dynamics continue to reshape global petroleum flows. As countries adjust sourcing strategies in response to sanctions and supply disruptions, U.S. refiners remain well-positioned to meet demand, particularly for distillate and jet fuel, across a diverse set of markets.