HomeMagazine2018August 2018, Vol. 245, No. 8Global News

August 2018, Vol. 245, No. 8

Global News

Global News

Cushing Bottleneck Could Increase U.S. Oil Discount WTI prices have already been depressed at Midland, Texas, as surging Permian Basin production overtakes pipeline capacity to Gulf Coast markets.  Now, oil traders and analysts are concerned that an emerging bottleneck at the key storage hub in Cushing, Okla., could result in further discounting of U.S. crude to global benchmark Brent. U.S. crude production continues to reach record highs, and the Permian Basin is responsible for most of it.  As pipelines to the Gulf Coast fill up and operators rush to add capacity, more Permian crude is going to Cushing.  The bottlenecks will likely remain until the end of 2019 o

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