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US market faces test of storage capacity but likely to pass


US market faces test of storage capacity but likely to pass

Report summary

Record high US crude stocks have exerted a widening pressure on the Brent-WTI differential in recent weeks. In the near term, Wood Mackenzie forecasts continued growth in crude stocks as US crude oil supply continues to rise and as refineries enter seasonal maintenance. We forecast a wide Brent-WTI differential in March through May. We believe there is sufficient crude oil storage capacity available in the US to handle these additional volumes.

What's included?

This report includes 1 file(s)

  • US market faces test of storage capacity but likely to pass PDF - 579.88 KB 3 Pages, 0 Tables, 3 Figures

Description

This Oil Markets Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced macro analysts and regional sector teams are based in the key oil producing and consuming regions they analyse, providing detailed field data and demand forecasts driven by country and industry forecasts.

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  • Despite record US crude stocks arbitrage means over supply can be handled
  • Growing stocks and widening differential impacted by refinery crude runs
  • Crude storage capacity continues to grow

In this report there are 3 tables or charts, including:

  • Despite record US crude stocks arbitrage means over supply can be handled
    • Map showing crude stocks and impact of wider Brent-WTI on opening and closing crude arbitrage opportunities
  • Growing stocks and widening differential impacted by refinery crude runs
  • Crude storage capacity continues to grow
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