Oil Daily - How Canadian Heavy Crude Impacts US Light, Sweet Exports

August 30, 2023 – Energy Intelligence Oil Daily

How Canadian Heavy Crude Impacts US Light, Sweet Exports

Developments in the Canadian crude market are having a material influence over how much oil the US can competitively export, several market watchers and players say.

Specifically, the price of Canadian heavy benchmark Western Canadian Select (WCS) at the Nymex delivery point of Cushing, Oklahoma, is proving to have a knock-on impact on how much light, sweet crude from the Permian Basin is available for international markets, say Rusty Braziel, executive chairman of RBN Energy, and Scott Nelson, commercial director of Link Data Services

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…“When you’ve got a lot of WCS into Cushing, then that’s going to be pulling more Midland into Cushing and there’s not going to be those barrels available for export,” Braziel said on an RBN-hosted webinar on Tuesday.