About half of U.S. oil pipeline space is empty after boom time building spree

About half of U.S. oil pipeline space is sitting unused, heating up competition for barrels in higher-output areas like the Permian Basin in Texas. Overall U.S. pipeline capacity utilization is at around 50%, compared with a range of 60% to 70% headed into early 2020 before the coronavirus pandemic hit, according to consultancy Wood Mackenzie. …

The post About half of U.S. oil pipeline space is empty after boom time building spree first appeared on Hellenic Shipping News Worldwide.

https://www.hellenicshippingnews.com/about-half-of-u-s-oil-pipeline-space-is-empty-after-boom-time-building-spree/