Chinese, others clamor for crude exports, but U.S. straining capacity 3:51am EDT [Reuters]
S&P Global Inc. (SPGI)
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Source: Reuters
Chinese, others clamor for crude exports, but U.S. straining capacity | Reuters 4 Min Read NEW YORK (Reuters) - The U.S. oil export infrastructure is straining to keep up as the country’s crude oil exports hit new highs and China snaps up more of it than ever before. U.S. crude production has surged to a record 10.7 million barrels a day, driven largely by growth from the Permian shale patch in West Texas, which pumps more than 3 million bpd. However, the infrastructure to move it abroad is lagging, even as U.S. prices are well below the Brent benchmark, a discount that sits just off three-year highs at $8.09 per barrel. U.S. crude exports peaked at 2.6 million bpd two weeks ago, but are expected to keep rising. No definitive data are available on how much crude the United States can export, though analysts estimate a nationwide capacity of 3.5 million to 4 million bpd. Most terminal operators and companies do not disclose capacity, and the U.S. Energy Department does not track it. “S
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- 2/9/24 - Miss
SPGI
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- 4/3/24 - Form 4
- 3/22/24 - Form DEFA14A
- 3/19/24 - Form ARS
- SPGI's page on the SEC website