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Refineries were running at their lowest pace in 21 years in August

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  • Refineries were running at their lowest pace in 21 years in August

    Looks like demand for oil is flexible after all.
    http://www.nytimes.com/2008/11/12/bu...hp&oref=slogin

    [Oil] [c]onsumption dropped 1.8 million barrels a day, or 8 percent, to 19.3 million barrels a day in August, compared with the period a year ago

  • #2
    Re: Refineries were running at their lowest pace in 21 years in August

    Originally posted by Jam View Post
    Looks like demand for oil is flexible after all.
    http://www.nytimes.com/2008/11/12/bu...hp&oref=slogin

    supply, too, as grg55 has been saying all along.

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    • #3
      Re: Refineries were running at their lowest pace in 21 years in August

      heh, supply only matters if there's credit...

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      • #4
        Re: Refineries were running at their lowest pace in 21 years in August

        Originally posted by phirang View Post
        heh, supply only matters if there's credit...
        Right now we are at $59/bbl ... I think it's time to get news about OPEC countries failing to enforce the production cut quotas

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        • #5
          Re: Refineries were running at their lowest pace in 21 years in August

          Originally posted by $#* View Post
          Right now we are at $59/bbl ... I think it's time to get news about OPEC countries failing to enforce the production cut quotas
          I've been wanting to short oil, but risk-adjusted returns suck trading commodities right now: much easier stuff, like casinos, that are begging to go tits-up.

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