US Refiners Rely on Shale More Than Ever as Heavy Oil Supplies Dwindle

US Refiners Rely on Shale More Than Ever as Heavy Oil Supplies Dwindle

(Bloomberg) — American refiners are relying on oil supplies from the country’s biggest shale basins more than ever as flows of denser varieties from places like Mexico ebb.

Why US refiners are increasingly relying on shale oil

American refiners are relying more heavily than ever on domestic shale oil, consuming the lightest blend of crude on record, Bloomberg writes.  With supplies of heavier crude from Mexico declining and Venezuelan imports restricted, fuelmakers are increasingly turning to shale basins in Texas, New Mexico and North Dakota. At the same time, a global surplus of light, sweet oil from the U.S., Guyana and the North Sea has narrowed the price gap betw…