Permian Basin pipeline capacity has significantly increased and will continue to increase as projects complete.
The spread has turned positive between Permian crude and WTI due to increased access to transportation by pipeline.
Most Permian producers will benefit from the higher pricing of Permian crude and several will find a new source of revenue from their associated natural gas.
Continue to look at oil in the context of flattening demand growth and then peak oil demand by 2030.
A year ago, Permian Basin crude and gas was bottlenecked as companies struggled to get their production to market. Beginning in recent months, that bottleneck has started to dissipate as pipelines for oil and gas