Name: Brent-WTI blowout: all down to the Permian?
Brand: Wood Mackenzie
SKU: 89175
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Author: Wood Mackenzie

Insight 20 June 2018

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The Brent-WTI spread is back in focus having widened to over $10/bbl, its widest spread since 2014 when infrastructure constraints forced large discounts in Cushing to coastal waterborne prices. The US crude benchmark is once again exhibiting signs of infrastructure constraints as the movement in the spread is almost entirely due to a widening spread between WTI pricing in Houston vs. Cushing. This Insight addresses the following questions: 1. Are Cushing bottlenecks back again? 2. With a significant surge in US exports, averaging over 2 million b/d in recent months, could additional crude be backing up in US export hubs and be reflected in the wider spread? 3. What's the outlook for Permian production in light of this wide price differential?</div>
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<p class="font-regular" >Brent WTI blowout all down to the Permian.pdf</p>
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