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U.S. Oil Export Boom Boosts Pipeline Demand

U.S. Oil Export Boom Boosts Pipeline Demand


The U.S. could add around 4 million barrels per day (mb/d) of additional supply in the coming years, and most of it will be shipped abroad, turning the U.S. into a major oil exporter.

Most of the new supply will come in the form of light sweet and ultra-light oil. But because refineries along the Gulf Coast are largely equipped to handle medium and heavy crude, the new production probably won’t find a home inside the U.S.

A new study from Wood Mackenzie predicts that only about 900,000 bpd of the additional supply will be taken up in the domestic market, leaving more than 3 mb/d for export should those aggressive production forecasts play out. Meanwhile, Bernstein Research was even more definitive, arguing that essentially all new additional supply will be shipped abroad.

Ultimately, the IEA forecasts that U.S. crude export capacity could hit nearly 5 mb/d by 2023.

Continued: https://oilprice.com/Energy/Crude-Oil/US-Oil-Export-Boom-Boosts-Pipeline-Demand.html