The pipeline constraints in the Permian are finally starting to bite, threatening to derail the extraordinary production boom that has been underway for the last few years. Permian drillers are “quitting new wells at a record pace,” according to Bloomberg . The region’s pipeline network is already just about full, forcing steep and ever-widening discounts for oil coming from West Texas. The number of drilled but uncompleted wells (DUCs) remains very high, evidence that companies are drilling wells but deferring completions, likely because they have no way of shipping the oil. As a result, they are leaving it in the ground. Last week, the Permian rig count fell by four. The EIA says that the number of DUCs in the Permian jumped by 100 in May, which is actually a bit below the average monthly increase over the past year, but still up 90 percent from a year earlier. […]