Midstream & Transport Monitor - December 30, 2015
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For well more than a year, the U.S. has been in a battle of attrition with OPEC, which has pumped nearly all the oil it could to win “market share.” The result has been a flat lining of crude oil prices.
For much of the shale boom, the Eagle Ford and Bakken oil—often of a much higher quality than West Texas Intermediate (WTI) and Brent—has been trapped in domestic markets. Now, with the lifting of the crude oil export ban on Dec. 18, that oil can now find a more fitting and lucrative place for its lighter, sweeter crude.