Post by
BayStreetWolfTO on Aug 11, 2022 4:58pm
Some GOM numbers being thrown around
I'm sure they have as much resources as possible on the issue. Each day at this rate wipes the SPR out and a bit more.
Multiple fields in the Gulf of Mexico are shut in due to a pipeline outage, including platforms operated by Chevron and Shell. Up to 1.2 million barrels per day could be offline.
Comment by
HighOctane89 on Aug 11, 2022 5:06pm
Lets hope the PHMSA (pipeline and hazardous material safety agency) is as strict with this pipeline restarting as they have been with Freeport LNG . As you say Wolf , every day this pipeline is offline it basically wipes out the SPR release effect . Could make for some interesting EIA reports on Wednesdays for the next few weeks .
Comment by
HighOctane89 on Aug 11, 2022 5:13pm
One other point , with 1.2M barrels of heavy sour Mars oil off the market (temporarily) and the SPR releasing less sour and more sweet crude , that should ramp up demand for WCS which will tighten the $20 discount we are now dealing with .