Liam Denning, Columnist

The Apparently Never-Ending Permian Blowout

If shale’s problems are temporary, nobody told the oil market.

June 11, 2018 at 12:32 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Permian shale oil prices aren’t exactly over the moon.
Photographer: Bloomberg/Bloomberg

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Energy dominance carries its own backlash, it turns out. Ground zero is the Permian basin in west Texas, where oil production has run ahead of pipeline capacity to get it to market, forcing some U.S. barrels to price at wide discounts. Thankfully, new pipelines should fix the problem by early 2020.

Apparently, though, the futures market is less convinced about that last bit.