Higher Permian output, constrained infrastructure increase WTI spread between hubs

WASHINGTON, D.C. -- Increasing production of crude oil in the Permian basin in western Texas, and parts of New Mexico, has outpaced pipeline infrastructure to move the crude to refineries, causing prices for crude in the basin (at Midland, Texas) to fall below similar crudes priced at Cushing, Oklahoma, the Energy Information Administration has reported.

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