My understanding of light oil is that the ever rising US shale production could ramp up more than our US refineries (I dont believe any are being built) could handle
and therefore export demand would be required to increase dramatically if pricing for WTI was to head up to the 70s. If correct is that US export market demand growing and not being supplied from other sources principally due to present or future Iran sanctions which if terminated would create less demand for US exports of light oil?
Future of light oil pricing
Re: Future of light oil pricing
Yes, exports facilities are being expanded. Plus, U.S. refiners can and will make modification to handle more light oil.
Read: https://www.worldoil.com/news/2019/2/12 ... port-texas
Google "Oil Export Facilities" for a lot more on this topic.
Read: https://www.worldoil.com/news/2019/2/12 ... port-texas
Google "Oil Export Facilities" for a lot more on this topic.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group