The United States exported a record 3.8 million bpd of crude in late June after Congress lifted a 40-year export ban in late 2015. Soaring Permian crude output last year exceeded available pipeline space, creating a West Texas glut that knocked regional prices to the lowest levels in four years and helped spur a pipeline construction boom.

The start-up of three new pipelines by year-end from the Permian Basin was expected to bring about 2 million new barrels per day to export terminals around Corpus Christi.

 

 

Read the full article here
Source: The Mighty 790 KFGO

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *