Chevron Says Fading US Crude Growth Casts Pall On Port Projects

By Lucia Kassai

Feb 8, 2025 (Bloomberg) –Slowing US oil-production growth is casting a pall over projects intended to expand crude shipments to overseas markets, according to Chevron Corp.

New terminal construction, a sure bet in the pre-Covid 19 era, is now plagued with uncertainty after exports of US crude in 2024 expanded at the slowest outside the pandemic years. 

“I think it was a matter of when” prior to the global virus outbreak, Barbara Harrison, Chevron’s president of supply and trading, said during an interview at the Argus Crude Summit in Houston. “I think there’s more of a question now of if” such projects will be built. 

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