Darn nice article. Thanks for depth of research here. I am a writer myself and I respect the work and dedication to quality that went into this article. CHeers
One piece of the puzzle, is the 6 mmbbl/d domestic consumption. Surely that will fall dramatically with the Russian economy. Does that have any impacts outside of Russia? Perhaps more shut-ins that are kaput for good?
This is a great catch and a great question. 6 mmbbld goes to domestic refinery runs, and in turn nearly 3 mmbbld of refined product exports gets exported - again mainly to Europe. The loss of Russian refined products will place even further pressure on the global liquids market.
Update. May 5th. The distillate scenario is ugly. Diesel shortages coming up. Oil ready to breakout. Refineries are good plays but stay nimble. Long #COM
Darn nice article. Thanks for depth of research here. I am a writer myself and I respect the work and dedication to quality that went into this article. CHeers
Thanks for the write up; looking forward to your future posts
Fantastic piece, thanks.
One piece of the puzzle, is the 6 mmbbl/d domestic consumption. Surely that will fall dramatically with the Russian economy. Does that have any impacts outside of Russia? Perhaps more shut-ins that are kaput for good?
This is a great catch and a great question. 6 mmbbld goes to domestic refinery runs, and in turn nearly 3 mmbbld of refined product exports gets exported - again mainly to Europe. The loss of Russian refined products will place even further pressure on the global liquids market.
Update. May 5th. The distillate scenario is ugly. Diesel shortages coming up. Oil ready to breakout. Refineries are good plays but stay nimble. Long #COM
Great piece!
great article. what's the action item? long debit spreads on 2024 crude? long US LNG producers? long US Steelmakers?
This is some incredible stuff
Excellent work 👏🏼
The best!
The first pie chart does 1 % export to the US. The number quoted by news elsewhere usually ranges between 3 and 6% (mostly 6%). Difference ?