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.
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Insight | Mar 2015
US market faces test of storage capacity but likely to pass
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