MMEX Resources Corp (MMEX)

[jmjjw]

MMEX is not a crude producer, and rising crude prices adversely affect refiners.

For an entity like MMEX, the impact of rising crude prices is asymmetric against, and more highly negative than for large scale refiners.

Since MMEX's proposed Phase I system could never produce anything other than intermediate stream products, ATB, AGO, and LGO, a rise in crude price squeezes the crack spread - the difference between the price of a barrel of crude and the price of refined product.

Citing this material is neither directly relevant to MMEX, or in any way beneficial to MMEX - it simply strengthens the cases against MMEX.

What’s The Limit For Permian Oil Production?, Jan 16, 2018
https://oilprice.com/Energy/Oil-Prices/Whats-The-Limit-For-Permian-Oil-Production.html

Brent crude and West Texas Intermediate started trading in 2018 above US$60 a barrel both for the first time since January 2014
https://oilprice.com/Energy/Oil-Prices/Oil-Sees-Strongest-Start-Of-Year-Since-2014.html