U.S. crude oil production is off its historic highs, the rig count is in free-fall, and crude inventories are rising fast, with the Cushing-to-Magellan East Houston price differential drawing oil away from the Gulf Coast and to the Oklahoma storage hub. Oh, and global demand for crude is off by more than 20%. None of this bodes well for U.S. crude exports, which have been at or near record levels the past few months. What seems to be shaping up is a fierce competition among the owners of existing export terminals to offer the most efficient, lowest-cost access to the water. Today, we continue our series with a look at Enterprise Products Partners’ Houston-area crude oil storage, pipelines and docks.
How Much More Can She Stand, Part 3 – Crude Export Terminals Weather Stormy Times
