Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Canadian dollar sinks below 88 cents as Saudis cut oil to $77

chemgear · 03-24-2015, 01:33 PM

http://www.bloomberg.com/news/articl...orage-runs-out

The next few months are critical. Every year, refineries schedule repairs for Spring—after demand for heating oil drops off and before summer driving season picks up. About a quarter of refineries shut down operations at this time. That puts an extra stress on inventories, because without refineries to process it, oil has no place to go.

Bloomberg Intelligence analyzed 10 years of maintenance-season data and found that if 2015 follows an average year of refinery maintenance, the current glut should never be more than a nuisance. But if 2015 matches up with the worst period in a decade, there will be trouble in the two biggest storage regions: Cushing, Oklahoma, and the U.S. Gulf Coast.

03-24-2015, 01:33 PM	#317
chemgear Franchise Player Join Date: Feb 2010 Exp:	http://www.bloomberg.com/news/articl...orage-runs-out YouTube Video The next few months are critical. Every year, refineries schedule repairs for Spring—after demand for heating oil drops off and before summer driving season picks up. About a quarter of refineries shut down operations at this time. That puts an extra stress on inventories, because without refineries to process it, oil has no place to go. Bloomberg Intelligence analyzed 10 years of maintenance-season data and found that if 2015 follows an average year of refinery maintenance, the current glut should never be more than a nuisance. But if 2015 matches up with the worst period in a decade, there will be trouble in the two biggest storage regions: Cushing, Oklahoma, and the U.S. Gulf Coast.