Texas cold halts Permian oil output as icy roads disrupt trucking
Al JazeeraWhile the disruptions so far seem small and localized, they come at a time of crude shortages and soaring prices. The extreme cold that’s descended across Texas is prompting some oil producers in the Permian Basin to halt a small part of their output as icy roads disrupt critical trucking operations. Another company that was expecting to receive roughly 25,000 barrels of oil by truck on Wednesday hasn’t seen those supplies, and isn’t expecting to see the deliveries again on Thursday, another person said. While most of the oil from Permian operations is gathered by pipeline and the disruptions so far seem small and localized, they come at a time when shortages have emerged in several major producing nations and are helping keep crude at seven-year highs. Most crude producing wells generate some volume of gas, so if gas facilities are impacted by the extreme cold and can’t take supplies, some oil producers could be forced to shut wells.
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