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Feb. 4, 2013 /PRNewswire/ -- BENTEK Energy, the natural gas and crude oil analytics unit of Platts, today announced the launch of its new monthly report,
Market Call: North American Crude Oil, which features five-year price forecasts for a host of North American low-sulfur oils, commonly known as light, sweet crudes.
The new monthly is designed to help energy producers, suppliers and other market participants better understand and estimate how changes to macro crude oil fundamentals will impact regional prices across
"The resurgence of U.S. oil production is altering traditional flow patterns and by 2018 should greatly reduce the need for foreign oil," said
Anthony Scott, manager oil analysis, BENTEK Energy. "As the value of crude transportation capacity is realigned, the West Texas Intermediate (WTI)-Brent and regional U.S. price differentials will feel the effect."
The forecasts take into account such market fundamentals as regional production, Canadian and waterborne imports to
the United States, refining demand, and transportation economics across
BENTEK analysts not only foresee record levels of light, sweet crude oils being produced in
North America between now and 2018, they see those crudes reaching the U.S. Gulf Coast by several transportation means. As a result, price spreads between regional crude oils and WTI, the long-time U.S. barometer crude oil, are predicted to be quite volatile.
By 2018, WTI is forecast to average
$74.33 per barrel (/b). Price spreads between WTI and international crude oils, such as Brent, are likely to remain wide at more than
$19/b, the report shows, as North American production growth displaces foreign imports. Driving the North American production increases will be the Bakken, Eagle Ford, and Permian shale oil formations, which will combine for more than five million barrels of day of production in 2018.
Included in the monthly report are:
The outright WTI forecast as well as ten regional price differentials to WTI, including Louisiana Light Sweet, Western Canadian Select and Bakken crude oils
Key fundamentals of crude oil supply and demand in North America, including production, imports/exports and refining demand
Crude oil production forecasts by PADD in the U.S. and by major producing area in Canada and Mexico
Canadian imports to the U.S. by quality and total regional capacity
Transportation economics by barge, rail and pipeline with a special emphasis on crude-by-rail
To learn more about
the report, contact BENTEK at 1-888-251-1264. Visit
www.bentekenergy.com to learn more about BENTEK's full line of
crude oil products.
BENTEK Energy, the natural gas and crude oil analytics unit of Platts, collects and organizes market data on n
atural gas, natural gas liquids and oil markets from thousands of sources worldwide and transforms the data into actionable intelligence and key market insights. BENTEK provides a full range of
products including daily
online applications, comprehensive studies,
consulting engagements and
retainer services. BENTEK Energy was acquired by Platts in 2011.
About Platts: Founded in 1909,
Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and
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November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company's leading brands will include: Standard & Poor's, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries. Additional information is available at
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