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Opinion
Liam Denning

America's Oil Isn't Going With the Flow

Structural issues have hurt WTI crude prices; fixing them could inspire U.S. firms to pump more.
A pipeline sign stands in Cushing, Oklahoma.

A pipeline sign stands in Cushing, Oklahoma.

Photographer: Daniel Acker

A mea culpa: This piece I wrote last week on the dislocation between benchmark U.S. and international oil prices missed something important.

While I emphasized the differences in speculative money flows to the Nymex West Texas Intermediate, or WTI, and Brent crude oil contracts, I didn't give the role of logistics the prominence it deserved. So here goes.