Magellan Midstream forecasts jump in crude oil transportation from Permian to Houston

Magellan Midstream's earnings jump about 39% in third quarter


Crude oil flows from the Permian Basin will move toward Houston as shale production increases and lines are filled connecting the basin to export hub Corpus Christi according to a prediction by Tulsa’s Magellan Midstream Partners LP.

The company’s own fourth quarter transportation grew by 47% to more than 65 million barrels according to a report by Reuters.

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