News Summary

• Pipeline flows from the Permian Basin to Gulf Coast export terminals have climbed to an all-time high.
• Last week alone, the volume of crude pumped through those networks rose by 1.5% to a daily average of 5.27 million barrels.
• On one system that feeds oil to Corpus Christi exporters, the pipes have been running at 102% of nameplate capacity.
• One knock-on effect of the surge in foreign demand has been a draw-down on domestic crude stockpiles.