Insight
Crisis in Cushing?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Crude oil inventories at the important WTI pricing hub of Cushing Oklahoma are screaming toward operational minimums. In the month of October already depressed inventory levels have been falling at an alarming rate of more than 300 kb/d and currently sit at only ~4.1 million bbls above our assessed operational floor. Is this a sign of an over-tightening market? We don’t think so. Wood Mackenzie’s proprietary pipeline and storage monitoring reveals a different message, challenging, yes-- but not due to a global shortfall in supply. In this inform we explore: • Current state of Cushing inventories • Drivers presently impacting Cushing including abrupt changes in crude flow patterns • Market balancing mechanisms soon to enter the fray to restore balance in Cushing
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
The Middle East Conflict: at what price does the oil market rebalance?
A Brent price above $200/bbl is required to drive demand down to match the supply lost from a prolonged closure of the Strait of Hormuz
$1,350
Insight
How might sustained higher prices impact North Sea output?
Producers were unprepared for this latest shock, but upside is possible
$1,350
Insight
What does closure of the Strait of Hormuz mean for Northeast Asian LNG market?
This insight examines how Northeast Asian markets will respond to a two-month supply shock
$950
