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BENTEK: WTI crude oil price spread between Midland & Cushing widened to more than $6/bbl this month

The regional Midland to Cushing crude oil price spread will remain wide until 2013 as production in the Permian exceeds takeaway capacity.

FOR IMMEDIATE RELEASE

 
 
Follow crude oil production in the Permian Basin with BENTEK reports.
Follow crude oil production in the Permian Basin with BENTEK reports.
PRLog (Press Release) - Nov. 15, 2012 - EVERGREEN, CO (November 15, 2012) – BENTEK Energy, a leading energy markets information and analytics company, reports crude oil production in the Permian Basin currently exceeds takeaway capacity and local demand by 40 Mb/d, compared to 14 Mb/d in early October. As a result, since Oct. 1 the WTI Midland price discount to WTI Cushing has increased significantly and is now more than $6/bbl. Bentek reports this price spread will remain wide until early 2013, when constraints are alleviated by Sunoco’s West Texas Gulf and Magellan’s Crane-to-Houston pipeline expansions. Over the next few years, new pipeline infrastructure will be critical to sustaining growth rates and minimizing regional price volatility.

BENTEK’s Crude Oil Production Monitors provide a new level of visibility into crude oil production in the U.S. and Canada.  Based on BENTEK’s fundamental analysis, these regionally-based monthly reports offer extensive supply-side coverage of the North American crude oil market, including regional production projections, drilling activity, rig counts, transportation and refining constraints and pricing analysis.

Highlights from BENTEK’s PADD 3 (Southeast/Gulf) Crude Oil Production Monitor:
• Permian takeaway capacity will likely be constrained by the end of 2016 if the BridgeTex pipeline is not built.
• Permian gas processing constraints may curtail oil production over the next few years.
• Eagle Ford oil production and pad drilling likely to increase in 2013.
• In the Anadarko, gas processing capacity will allow for continued oil growth through 2017.

Strengthen your market intelligence with BENTEK’s full line of crude oil products. To contact BENTEK or to learn more, go to http://bentekenergy.com/PADD3SoutheastGulf.aspx or call 1-888-251-1264.  

Request a sample of the PADD 3 (Southeast/Gulf) Crude Oil Production Monitor: http://marketing.platts.com/forms/NGAM201211-Bentek-Novem...

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Source:BENTEK Energy
Phone:303-988-1320
Zip:80439
City/Town:Evergreen - Colorado - United States
Industry:Energy
Tags:WTI-Brent Spread
Shortcut:prlog.org/12024153
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