Economic slowdown in coming months was outweighing supply-side risk.
NEW YORK: Exports of the Permian Basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of US refiners.
Sales of the new grade, known as West Texas Light (WTL), began in September, as explorers sought to separate out increasingly lighter and less sulfurous crude bubbling up from wells in West Texas and New Mexico, so it wouldn’t lessen the quality of US benchmark West Texas Intermediate.
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