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Over the past 15 years, the Shale Revolution has transformed the U.S.’s crude oil supply/demand balance. Increasing production unlocked through horizontal drilling and hydraulic fracturing and technologies pushed up the nation’s overall supply without an equal change in refining capacity, resulting in significant changes in regional balances.
This report examines the factors contributing to both sides of the crude oil balance, including the role of weakening downstream markets in PADD 1; imported Canadian crude oil’s contribution to PADD 2’s refinery inputs; the pipeline constructions and reversals which have allowed for PADD 3’s increased inflows; PADD 4 production’s critical egress routes; and how PADD 5’s reliance on imports have increased despite refinery conversions limiting its demand for crude oil.
Key takeaways from the report include:
- East Coast refining capacity allows it to rely almost exclusively on crude imports
- Midwest serves as the crossroads for Canadian barrels headed south
- Gulf Coast’s influence boosted by production growth, export capacity
- The Rockies have limited refining capacity but provide key links to other regions
- West Coast undergoing transformation as product demand slides, output falls
“Pictures of You” is included in RBN Energy’s 2025 Drill Down report series, a suite of reports covering many of the key issues expected to impact the markets for crude oil, natural gas and natural gas liquids. Drill Down reports are part of RBN Backstage Pass™ premium resources that also include Blog Archive Access, Spotcheck Indicators, Market Fundamentals Webcasts, Get-Togethers and more. By subscribing to RBN’s Backstage Pass™ Premium Services, you plug into our network and get direct access to our premium resources.
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