U.S. record oil exports bite into Russia, OPEC market share in Asia

[longknife]

I know leftists will instantly make comments about greedy corporations but will totally overlook an important part – it means much more work for Americans.

But even if Asia and Europe are keen to take more U.S. crude, the record volumes are straining export infrastructure in the United States, limiting its ability to pump and ship more oil.

“Tight (shale) oil’s been eating OPEC’s lunch for the last few years. The lack of infrastructure will temporarily cede market share back to OPEC,” R.T. Dukes, head of U.S. Lower 48 oil supply at Wood Mackenzie said in a note last week.

Much more @ U.S. record oil exports bite into Russia, OPEC market share in Asia | One America News Network

 

[BlackFlag]

Russia and OPEC are loving life right now with surging oil prices, and grateful to Trump for hurting competition from Iran.

 

[william the wie]

The big US advantage is the federal jurisdiction over interstate transport. Brazil to name just one case has enough known shale fields that it could take oil prices down by about $10/bbl if it could only straighten out jurisdiction and reduce corruption to something reasonable. Last I heard there was something like four different pipeline projects hanging fire over Ugandan oil and that can be repeated worldwide.