Seaway to add to Midland crude bottleneck

摘要

Houston—The reversed Seaway pipeline, expected to start up this week and bring 150,000 b/d of bottlenecked crude in Oklahoma down to the Gulf Coast, will only add to another bottleneck in Midland, Texas, analysts said this week. Crudes produced from the Permian Basin in West Texas and southeast New Mexico, which are priced at Midland, are already valued below Cushing-priced crudes due to a tsunami of Permian output, observers say.