While the Midland-to-Cushing oil price differential blew out to as high as $16 per barrel (bbl) over the summer, and still stands at about $10 in early November, it’s not why you might think. It’s not about pipeline constraints—yet, according to Midland producer and resident Steve Pruett. Speculators and a media frenzy are to blame for low oil prices in the Permian Basin.

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