The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

California's dirty oil gets pricey amid Venezuela sanctions

Pubdate:2019-02-20 10:26 Source:liyanping Click:

CALGARY and NEW YORK (Bloomberg) -- California doesn’t usually come to mind when talking about the U.S. oil boom, but the state’s dirty oil is commanding an increasingly large premium amid an international shortfall of dense, high-sulfur crude.

Refiners in the Golden State have been forced to import most of their crude as the state’s production has dwindled. While production from the Permian Basin of West Texas is overflowing, a lack of transportation options is keeping it from reaching the Golden State cheaply.

 Californias dirty oil gets pricey amid Venezuela sanctions(圖1)


The average posted price for Midway-Sunset crude on Friday was $60.54/bbl, nearly $5 above U.S. benchmark West Texas Intermediate futures, and near the all-time high of $5.06 premium set in November in data stretching back more than two years. More than 22 MMbbl of the oil that’s heavier than such benchmarks as Mexican Maya or Western Canadian Select was pumped from the San Joaquin Valley in 2017.

Such pricey crude is the result of a tightening market due to U.S. sanctions on Venezuela, mandatory production curtailments in Canada and cuts of heavy, sour grades by OPEC members such as Saudi Arabia, John Auers, executive V.P. at energy consultant Turner Mason & Co. in Dallas, said by phone.

Local factors also play a role, as California’s refiners lack many pipeline or crude-by-rail links to the rest of the country, Auers said. As such, accessing light, domestic grades produced in the Bakken or Permian Basin is harder for California plants than for those on the Gulf Coast.

“They probably have less flexibility,” he said. “The guys in the Gulf, have always had more access to other grades.”

Unlike the U.S. as a whole, California’s dependence on foreign oil imports has been growing steadily since the 1980s as the state’s own crude output and that of Alaska’s has diminished.

Without surplus production, not much California crude makes its way to foreign markets. Districts associated with the state shipped out nearly 950,000 bbl in 2017 to the Bahamas, the most recent exports, according to U.S. Census Bureau data compiled by Bloomberg.

主站蜘蛛池模板: 久久99青青精品免费观看| 亚洲精品第一国产综合野| gogo全球大胆专业女高清视频| 深夜A级毛片视频免费| 国产美女在线一区二区三区| 亚洲一二区视频| 视频一区二区三区免费观看| 性做久久久久久| 亚洲欧美日韩天堂一区二区| 免费专区丝袜脚调教视频| 无遮挡一级毛片视频| 免费A级毛片AV无码| 18禁强伦姧人妻又大又| 日韩三级一区二区三区| 公添了我的下面出差牌友 | 夫妇交换性三中文字幕| 亚洲日本韩国在线| 青青热久免费精品视频精品| 宅宅午夜亚洲精品| 亚洲国产精品无码久久| 风流女护土一级毛片| 女扒开尿口让男桶30分钟| 亚洲免费在线视频| 色在线亚洲视频www| 在线无码视频观看草草视频| 亚州**色毛片免费观看| 美国亚洲成年毛片| 国产精品自产拍高潮在线观看| 久久国产成人精品| 狠狠色综合TV久久久久久| 国产欧美精品区一区二区三区| 中文字幕一二三四区2021| 欧美日韩精品在线观看| 国产一区二区三区电影| 91自产拍在线观看精品| 日本妇人成熟免费| 亚洲精品资源在线| 色香视频在线观看| 国产高清中文手机在线观看| 久久九九99热这里只有精品| 波多野结衣bt|