Refining
Discussion focused on refining’s strategic scarcity, operational underinvestment and exposure to geopolitical and weather disruptions. Josh Young argued that US refiners have spent too little on maintenance despite high margins, while forward markets imply refining margins will decline materially from extreme levels 6. Other commentary stressed shrinking coastal capacity, inadequate diesel reserves and the difficulty of replacing lost refining infrastructure 7. Arthur Berman linked refining and processing capacity to a wider, intensifying competition for critical resources 4.
From the window to Oct 10, 05:30 ET — this window's take is still to be written.
Where the voices land
All voices 2 voices1 bearish1 bullish
Strongly bearish
- BSBruno SantosStrongly bearish Sees the global refining crisis persisting, with ~14% of capacity offline in September versus a normal ~7%, and unplanned outages half the total. ▶ 7:24 Diesel Supply Tightens Despite Recovering Crude … · 12 Oct
Bullish
- JBJavier BlasBullish Notes refining margins have ballooned to $30-$50 a barrel from $10-$12, and expects stockpiling demand to keep the sector strong. “the refining margins are so big now” ▶ 59:45 Why Oil Hasn't Hit $200—and What Happens Next | … · 14 Oct
1 bearish1 bullish
Mentions
9 this weekStories it travels in
i
The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
- Anas Alhajji 2 mentions
- Javier Blas 2 mentions
- Rory Johnston 2 mentions
- Bruno Santos 1 mention
- Steve H. Hanke 1 mention
- Jeffrey Currie ++ 1 mention
- Amena Bakr 1 mention
- Johanna Botta 1 mention
See what your own voices say about Refining, every morning.
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