US crude exports, Permian production expected to fall: Port of Corpus Christi CEO

摘要

Houston—US crude exports and Permian Basin production may soon see notable declines as the plunge in oil prices triggers a painful but possibly short-lived downturn, Port of Corpus Christi CEO Sean Strawbridge said. Crude exports from Corpus Christi already started to dip in February from record highs in January as impacts from the coronavirus took hold, but larger declines are expected in the weeks and months ahead now that Saudi Arabia and Russia are preparing to flood the market in a price war that’s sent oil prices down into the $30/b area, Strawbridge said in an interview Wednesday.