Amid record production and export levels in the US, crude infrastructure expansions and developments are also expanding at a rapid pace, according to Genscape’s Dylan White
In the last ten years, the US vastly expanded its role in the global oil supply chain. The lifting of the US crude export ban in 2015 unlocked access to international refining markets on an ever-increasing scale.
Meanwhile, steep production growth allowed the US to become the world’s largest supplier of crude oil in early 2019. The rapid emergence of the US as a pivotal player in the international crude market was made possible by the widespread buildout of infrastructure. This new storage and pipeline capacity facilitated greater and more efficient flows from upstream to downstream markets.
Large-scale construction projects continued through April 2019, signaling that the US crude market revolution was far from over.
RECORD PERMIAN BASIN PRODUCTION DROVE OVERALL US SUPPLY GROWTH
US crude production r...