Permian Crude Oil Takeaway Capacity Boosts Prices, More on the Way

SUGAR LAND--March 27, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Energy Information Administration (EIA) reports that thanks to pipeline projects brought online recently, the price of crude oil from the Permian Basin in West Texas and eastern New Mexico is now about the same as a barrel at the storage hub in Cushing, Oklahoma, but still trading at a discount to crude aggregation points in Houston, Texas, showing that more takeaway capacity to the Gulf Coast is needed. Industrial Info is tracking several projects to move oil out of the Permian.

Within this article: Details of projects to move crude oil out of the Permian, including those belonging to Plains All American Pipeline LP (NYSE:PAA), Exxon Mobil Corporation (NYSE:XOM), Energy Transfer LP (NYSE:ET), Phillips 66 (NYSE:PSX) (Houston) and Marathon Petroleum Corporation (NYSE:MPC)