The Permian Basin, which accounts for 40% of US oil production, plays a critical role in protecting oil markets from supply shocks and ensuring stability in the event of disruptions such as the attacks on Saudi oil facilities, according to a report from Enverus. "What used to trigger a major buy or sell in crude oil, or cause prices at the pump to skyrocket, are being shrugged off by the markets in a day," says Enverus' Bernadette Johnson.
Report: Permian helps insulate oil market from shocks
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