Demand for crude oil should soften seasonally in the US as refiners head into maintenance…
Matt Smith at Fuel Fix shows current refinery runs in perspective:
Here is his commentary:
“4) After a completely counter-seasonal increase of 418,000 bpd to refinery runs for the second week of the year, logic has prevailed in yesterday’s weekly EIA inventory report as runs dropped by a whopping 639,000 bpd. Now it seems we are back on an even playing field, with runs down 221,000 bpd since the beginning of the year, heading lower in the coming weeks as refinery maintenance ramps up.
Even though this now makes sense over the two-week average, it does cause one to wonder as to the validity of last week’s print.”
http://fuelfix.com/blog/2017/01/20/market-currents-chinese-oil-demand-pace-to-slow/
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