USL - North America Crude Oil Steps Up With More Supply
- With growing production, the expansion of midstream infrastructure since 2018 and a shrinking North American refining system, export volumes of WTI from the U.S. Gulf Coast are poised to set new records.
- North American oil production growth is expected to be led by the Permian Basin, where volumes are seen exceeding pre-COVID highs this year.
- As production grows, WTI will be increasingly available on the U.S. Gulf Coast to assuage shortages, and will inevitably account for a larger share of the global refinery slate.
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North America Crude Oil Steps Up With More Supply