Many refineries were closed by oil companies with the intention to reduce supply and raise prices. Now there is a glut of crude, and they don't have the capaci

Many refineries were closed by oil companies with the intention to reduce supply and raise prices. Now there is a glut of crude, and they don't have the capacity to take advantage of the low crude cost / high refined product cost. https://books.google.ca/books?id=74brGsoymBoC&pg=PA35&lpg=PA35&dq=oil+close+refinery+increase+margin&source=bl&ots=6Njn9YZwHR&sig=evbLrmK0lx3fitgo_Q8zMA8133s&hl=en&sa=X&ved=0CBwQ6AEwADgKahUKEwiS4KrFr7vHAhURf5IKHT2YDYU#v=onepage&q=oil%20close%20refinery%20increase%20margin&f=false https://books.google.ca/books?id=74brGsoymBoC&pg=PA35&lpg=PA... Recently they have also been deferring maintenance to keep capacity of their refineries as high as possible and now failures are causing major shutdowns.