Publications: The Petroleum Economics Monthly

A Tale of Two Markets (September 2017)


This report traces the emergence of WTI in Houston as well as two other Gulf Coast export crudes: Mars and Louisiana Light Sweet (LLS). Many writers have noted that the fracking revolution has made the United States the world’s swing producer for crude. Few, though, have recognized that, given this fact, prices reported for US crude will become the world’s benchmark.


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