Increase oil refining is not the same as increase oil production. Their announcement of increase refining cor relates directly to two of the previous announcements being their outlook of oil demand starting to grow and growing limited storage due to increased oil supply. The only thing this changes is more gasoline/fuel supplies.... (probably to support the growing demand of fuel since gas is still relatively cheap.) IMO.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.