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That's probably part of the problem; I expect that refining is a bottleneck because of the legion of shutdowns that happened in 1q 2020. I also suspect there's
by cheaprentalyeti 4y ago
That's probably part of the problem; I expect that refining is a bottleneck because of the legion of shutdowns that happened in 1q 2020.
I also suspect there's a lot of details that aren't mentioned in the article and we'll find out later. In particular I'd like to suggest that the pipeline network (or lack thereof) is functioning as a bottleneck in this case as it is in constricting new drilling.
- cheaprentalyeti 4y agoAlso, keep in mind the price of oil in 4q 2019 was roughly $ 60/bbl. This article is looking at spot market increases to make a narrative about refineries when the important bit is the 100% or so increase in one year in the non-spot/longer term market.