Texas oil pipeline operators are preparing to increase the volume of crude oil flowing through pipelines from domestic shale fields to its hubs on the Gulf Coast to pre-pandemic levels by October 2022, according to analysts.
U.S. crude oil had been trading at about $100 a barrel, a boon for some Texas oil pipeline operators struggling after a period of low demand.
Oil prices jumped on May 11 after closing below $100 a barrel the previous day, as COVID-19 cases appeared to be easing in China and a revised April inflation report came in higher than expected, leading to a reversal of a prior-session selloff.
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