Falling Texas crude output becomes a global oil market crisis
Falling Texas crude output becomes a global oil market crisis By Alex Longley on 2/18/2021 click to enlarge LONDON (Bloomberg) --What began as a power issue for a handful of U.S. states is rippling into a shock for the worldâs oil market. More than 4 million barrels a day of output -- almost 40% of the nationâs crude production -- is now offline, according to traders and executives. One of the worldâs biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world have been disrupt...
Source: worldoil.com