Shale oil set to shake up US crude pricing
Could match shale gas effect on commodities prices
SHALE oil is set to have much the same effect on US commodities prices as shale gas, claimed Jack Lipinski, chief executive of independent refiner and marketer CVR Energy. He told a conference call that the “astounding increases” in crude volumes from the unconventional Bakken, Denver Julesberg and Eagle Ford plays have become a wild card in the price differential between WTI and Brent crudes. That production represents the “groundwork for a structural and larger WTI discount to Brent simply because of volumes”, Lipinski said. He said the Bakken is growing at a monthly pace of 15,000 barrels a day (b/d) and there is no clear sense yet of what to expect from Denver Julesberg, Eagle Ford and o
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