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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
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LONDON (Bloomberg) What began as a power issue for a handful of U.S. states is rippling into a shock for the world’s oil market.
More than 4 million barrels a day of output almost 40% of the nation’s crude production is now offline, according to traders and executives. One of the world’s 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 disrupted for much of the week. ....

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