Commodity Market Report

North America Crude Markets short-term outlook Jan 2020

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09 January 2020

North America Crude Markets short-term outlook Jan 2020

Report summary

2020 ushers in the start of a new decade along with several fundamental changes in the North American midstream space. In this update, we reflect on U.S. crude production’s rise from near historic lows over the past decade and look how market dynamics will shift in the future as a result of sustained capital discipline, additional pipeline capacity, and offshore export terminal construction. In this update, we delve into: -Rising shipping rate impact on U.S. coastal pricing -Corpus Christi’s rise as a competitive export hub to Houston -Enbridge and Enterprise Product Partners’ development of SPOT

Table of contents

  • Turning the Calendar
  • US L48 Production outlook
  • US coastal prices driven by elevated waterborne freight rates
  • Benchmark Brent-WTI spread being driven higher with weakened coastal prices
  • Crude exports continue to march higher – Corpus Christi volumes double into year-end
  • Offshore Terminal Refresh – If you can’t beat them, join them

Tables and charts

This report includes 2 images and tables including:

  • Brent-WTI Spread ($/bbl)
  • Export volumes by coastal hub (kb/d)

What's included

This report contains:

  • Document

    North America Crude Markets short-term outlook Jan 2020

    PDF 828.94 KB

  • Document

    North America Crude Markets short_ term outlook_Jan_2020.xlsx

    XLSX 1.46 MB