Growing production of Texas super-light oil – and worries about its quality compared with other types of crude – is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas. In the last several months, drillers are producing more oil known as West Texas Light (WTL), a type of crude that differs from what is blended at the Cushing, Oklahoma hub to produce the benchmark U.S. oil grade. Cushing, which currently has 46 million barrels in storage, is one of the biggest blending markets in the world, where light and heavy crude are mixed to produce that blend, which is deliverable against benchmark U.S. futures. Pipeline companies have started requiring shippers to separate […]