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North Dakota sweet oil is down to $25/bbl or thereabouts according to some sources. That was also noted in the most recent Director's Cut.
"Poll" or "survey" at the sidebar at the right was posted the day the Director's Cut came out, asking what readers thought was the "most important" data point.
What is up with the ND Sweet spot pricing?!
ReplyDeleteI have no idea.
Delete$26
ReplyDeleteThat's what I'm seeing also; it was also noted in the most recent Director's Cut, data for October, 2018, which I will add to the post above. If the Director commented on it, I missed it.
ReplyDeleteSome takeaway capacity will be lost starting in January, 2018, when Enbridge displaces some Bakken oil for Western Canadian heavy sands oil. When takeaway is lost; more expensive to ship; and, price of oil being shipped drops. It's hard to believe that the small amount of displacement would case a price swing this great. On top of that, production continues to set new all-time records.
DeleteWell, I'm flummoxed. It is normally within about 10% of WTI
ReplyDeleteMost surprising to me -- no headline stories in the Bismarck Tribune or at other media outlets. I agree with you. Very, very strange. Glad to hear I am not the only one confused.
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