Charge of the Light Brigade – Turner Mason Assesses the Onslaught of Light Sweet Crudes
According to a new study just released by Turner Mason titled “North American Crude and Condensate Outlook” (NACCO), U.S. crude oil production could nearly double between early 2012 and 2022. At least that is the Study’s “high case” production scenario. That is very good news for U.S. refiners. Perhaps less good is the fact that 80% of the volume growth is light sweet crude, super-light crude, or even lighter condensate. How will refiners digest all of this light crude and what impact will the growing supply have on price differentials? What will the surge of light crude mean for waterborne and Canadian heavy crude imports? Today we start a two-blog series that will examine some of the findings of TM&C’s “2013 North American Crude and Condensate Outlook” (NACCO).
