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Center for Energy Studies

Decomposing Crude Price Differentials

Mark Agerton

Decomposing Crude Price Differentials.

By Mark Agerton and Gregory B. Upton Jr.

The authors investigate two plausible causes for the significant price discount of U.S. crudes during the U.S. “shale boom” and evaluate how much each mattered, finding that significant price differentials would have emerged between U.S. and foreign crudes with or without the crude export ban in place.