U.S. refiners are going directly to the wellhead to get better crude oil

Reuters reports that some U.S. oil refiners are buying tanker trucks and extending local pipeline networks to get more oil directly from the wellhead in an effort to secure a more predictable, consistent and profitable stream of crude oil. As an example, the news service says that Phillips 66, the nation's fourth-largest refiner, has added trucks and offloading equipment at several of its refineries to help reduce its reliance on oil from Cushing, Oklahoma, the nation's biggest crude oil crossroads and storage hub. A growing volume of Canadian oil is often mixed with lighter domestic shale crude at Cushing, Reuters says, resulting in blends that can be less profitable than similar oil from the field.