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Politics : Formerly About Advanced Micro Devices

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To: Qone0 who wrote (1372638)	8/31/2022 10:12:29 PM
From: miraje	4 Recommendations Recommended By Bonefish easygoer isopatch Tenchusatsu Read Replies (1) of 1578451

Most of the oil in the SPR is Saudi sour heavy crude. US refineries are set up to do only light sweet crude that fracking produces. Completely incorrect.. reuters.com ..“In order to process more shale from here on, refiners will need access to more heavy crude too,” Morgan Stanley analysts said in a note last week.. ...A March investor presentation says sweet crude makes up an average of 17-37 percent of its Gulf refineries... So most of the SPR draw down will be exported in this draw down. Did you pull that out of your ass? This does two things, takes away Putins ability to control brent and provides space in SPR for light sweet. Completely wrong again. You should learn some facts before spewing ignorant bull shit.. Here's a report from someone who knows the facts.. Message 33948812 ...What is also disturbing as you look at the fact that the US has the lowest amount of sour crude in the Strategic Petroleum Reserve (SPR) perhaps ever. That is a major concern because we exported a lot of that heavy oil overseas. Diesel is in short supply. If you ask refiners to ramp up production of diesel, the heavier sour blends of crude generally yield more of that product. The SPR released 4.7 million barrels last week. That put the supply at 469.9 million barrels. Of those, 235 million barrels are sweet and the precious sour is below that, maybe for the first time, at 234.9 million barrels. The bearish traders also latched onto the headline crude oil number. The EIA reported that the US. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.5 million barrels from the previous week. At 426.6 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year....

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