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Tag Archives: West Texas Intermediate

Permian producers seeing deep discounts

Oil

Permian Basin producers are becoming a victim of their own recent success. A report issued this past week by the Energy Information Administration said the rise of production from the Permian Basin has outpaced takeaway infrastructure, causing the price differential between West Texas Intermediate at Midland to fall below West Texas Intermediate Cushing. EIA Analyst T. Mason Hamilton said the ...

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U.S. overtakes Russia, Saudi Arabia in worldwide oil production

John Deede | Shale Plays Media Google+ Bank of America Corp. has announced that the United States has become the world’s biggest oil producer. Grant Smith from Bloomberg News reports: U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said ...

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Houston’s oil hoard overflowing

houston ship channel

The United States’ Gulf Coast, and especially Houston, is bursting at the seams with crude oil. Stockpiles centered in the Houston area, reaching as far east as Alabama and west as New Mexico, rose to an all-time high of more than 200 million barrels during the week of April 4, according to the Energy Information Administration. The total U.S. oil ...

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Pipeline projects help shrink domestic oil discount

oil drums

By Adam Wilmoth, the Oklahoman  Crude oil stockpiles in Cushing are at their lowest levels in two years after new pipeline projects have begun moving oil more easily to refineries along the Gulf Coast. Despite the increased oil flow, the U.S. Energy Information Administration this week said the new pipelines — along with increasing domestic oil production — are expected to ...

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