OPEC Flagship "ARAB LIGHT" vs. US Flagship "PERMIAN WEST TEXAS LIGHT" . . . It's starting. . . . Game On ! ! !

(edited)

OPEC knows the first of 3 PERMIAN to Gulf of Mexico Export Terminals will start to ramp by September.  

Saudi Arabia and UAE have been busy the last month trying to sign (steal) long-term contracts with Iran's accounts affected by the sanctions, China , Japan, India ,and South Korea.

A majority of the new volume coming from Permian will be exported. That's 2.5 mm bbls/day of oil by Q2 2020.

The competition will gradually get fierce over next 18 months. The OIL and LNG industry have long, medium and short term contracts with Asian buyers.  Every quarter that passes the more price competition will grow.

Edited by Falcon

Share this post


Link to post
Share on other sites