BENTEK: U.S. East and West Coasts Unable to Benefit from North American Crude Oil Boom

May 8, 2012 - PRLog -- EVERGREEN, CO (May 8, 2012) – BENTEK Energy, a leading energy markets information and analytics company, projects crude oil production in the U.S. East Coast (PADD 1) and West Coast (PADD 5) will be stagnant over the next five years.  In contrast, BENTEK’s Market Alert, Crude Awakening: Shale Boom Hits Oil, reports total crude oil production in the U.S. and Canada will grow at least 36% over the next five years, reaching 12,100 Mb/d by 2016.  This Market Alert reports that during this time, the East and West coasts will not play a major role is U.S. refinery demand for domestically produced crude and that only a limited amount of supply from booming production areas across the U.S. and Canada will be transported to these regions.

BENTEK’s Crude Awakening: Shale Boom Hits Oil reveals the similarities of the East and West coast crude oil markets, including that both heavily rely on crude from sources outside the U.S. to meet demand needs and both are priced in line with international benchmarks rather than West Texas Intermediate.  Unlike the U.S. Gulf Coast which may soon be exporting light sweet crude, the East and West coasts will continue to be dependent on crude from outside the U.S. to meet demand as there are no large pipelines connecting these regions to inland, oversupplied production areas such as the Williston, Niobrara, Eagle Ford and Permian.  

BENTEK’s Market Alert, Crude Awakening: Shale Boom Hits Oil, provides a comprehensive review of the U.S. and Canadian oil market and its potential growth over the next five years, including industry challenges and implications.  The PADDs 1 & 5 section of the Market Alert offers in-depth analysis of historical and projected crude oil production trends through 2016, including key production areas such as the Monterey Shale.  This section reviews current and planned regional transportation and infrastructure, details supply from other regions of the U.S. and Canada and includes analysis of how these factors will impact prices and overseas oil imports.  

For more information about BENTEK’s Crude Awakening: Shale Boom Hits Oil Market Alert, go to http://www.bentekenergy.com/CrudeAwakening.aspx#2012.

To view a full line of BENTEK’s Crude Oil Production Monitors, go to http://www.bentekenergy.com/MarketReports.aspx or call 1-888-251-1264.  

Watch the Platts Energy Week TV segment featuring BENTEK Senior Director Adam Bedard: U.S. Oil Exports – Could It Happen Again? Click here to view: http://www.plattsenergyweektv.com/news/article/203901/293...