RE: Us remains largest oil producer for sixth year in a row
Posted on: March 12, 2024 at 11:13:43 CT
KC rules MU
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WTI is at $78 per barrel which is not all that high relative to prices over the last year. Higher gasoline prices are more of a function of refining bottlenecks at the moment. A fact we probably need to get use to. I doubt if any move-the-needle type refineries are built in the US anytime soon. The investment is too great and the kind of margins refineries are experiencing today are needed to payout so it would be counterproductive to inc/supply and drive those margins down.