Every so often, there’s talk that the crude oil hub in Cushing, OK, isn’t as important as it used to be. Don’t believe it. Want proof that Cushing is alive and well? Consider the growing list of pipeline projects into and out of the hub that have been coming online or advancing to final investment decisions, as well as the efforts to push Cushing’s storage capacity toward the 100-MMbbl mark. Midstream companies have committed to building more than 800 Mb/d of new pipeline capacity from Cushing to other hubs and to refineries, and another 1.6 MMb/d of capacity is in the pre-FID development stage. Today, we conclude a mini-series on recent developments at the Oklahoma oil hub with a look at storage expansions, new Cushing players, and outbound pipeline projects.
That Was Then, This Is Now, Part 2 – New Crude Pipeline Capacity Out of the Cushing Hub
