Written by John Egan for Industrial Info Resources (Sugar Land, Texas)–The crude oil imbalance at the Cushing, Oklahoma, hub is likely to get worse before it gets better, and ultimate relief is several years away, speakers told a Rocky Mountain oil and gas conference in Denver last week.
The Cushing hub currently receives about 1.6 million barrels per day (BBL/d) of oil, but outbound pipeline capacity is limited to about 1.3 million BBL/d, according to Paul Miller, senior vice president of oil pipelines at TransCanada PipeLines Limited, a unit of TransCanada Corporation (NYSE:TRP) (Calgary, Alberta). The imbalance at the hub creates a situation that is “bad and getting worse,” he added, because new production is coming online faster than pipelines and infrastructure are being completed.
Source: Crude Oil
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