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Three Charts That Show the North American Oil Glut Is Moving


Photographer: Daniel Acker/Bloomberg

North America’s rapid oil production increase has experienced growing pains, and the aches seem to be moving from one joint to another.

The latest oil patch to suffer from too much oil is the Bakken shale formation, a massive play that stretches across portions of North Dakota, Montana and Canada. The difference -- or spread -- between the price of West Texas Intermediate crude, the U.S. benchmark, and oil delivered at a Bakken pipeline hub in Clearbrook, Minnesota, reached the widest in six years last week before bouncing back.