3 ms·

Oil is a fungible commodity.

• andrewflnr 7mo ago
  It's not as fungible as you would hope. Funging refineries and transport capacity takes time.
  • genxy 7mo ago
    Certain kinds of crude gets refined in certain refineries. The economic shockwaves are going to be felt in ways no one expects. We will see!
  • mememememememo 7mo ago
    I read on HN actually about different types of crude. Needing different refineries. Hence Venezuelan oil being atttactive.
• fragmede 7mo ago
  Sorta. There's different makeups for oil (light vs heavy, sulfer content, etc) with refineries being tuned towards a particular type. Retooling for a different type isn't necessarily economical so it depends on the types of oil being discussed.