- Jan 16, 2019 1:49 pm GMT
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The bad news for OPEC is that the U.S. is working on another wave of pipeline expansion, which could add 2.1 million barrels a day of takeaway capacity by the end of 2019 and another 2.2 million by 2021, according to Bloomberg Intelligence.
On the plus side for OPEC, shale oil is of the lighter variety that's less amenable to U.S. Gulf coast refineries configured for heavier grades. That quality could keep the pressure on shale oil prices compared with WTI, and subsequently diminish the cash flow of local explorers and producers.