Output from American shale oil fields has pushed U.S. crude production to all-time highs. US refineries are nearing the limit of their capacity to process shale oil , according to Morgan Stanley . Many US plants are configured to process heavier crude oil than the light shale oil being extracted from shale plays such as the Permian Basin . In order to export the light shale oil , traders would have to offer a price to gain market share . However , Morgan Stanley says the shale glut is good news for Canadian oil shale producers , which need light crude for blends , and middle distillate producers .
US refineries are nearing the limit of their capacity to process shale oil , according to Morgan Stanley . Many US plants are configured to process heavier crude oil than the light shale oil being extracted from shale plays such as the Permian Basin . In order to export the light shale oil , traders would have to offer a price to gain market share . However , Morgan Stanley says the shale glut is good news for Canadian oil shale producers , which need light crude for blends , and middle distillate producers .