Absolutely. Much of October the refinery ran at a substantial reduction. It takes time to get back up to speed even when repairs are complete. However the spread tightening has been a challenge to all refiners, and only those with the cost and freight advantages like NTI will be favorable in the short term. That means those close to Cushing, N.D. and Texas, plus the ability to refine both light and heavy crude when price dictates. I am hearing the country is running into a shortage of refining capacity with the shale boom. I don't know what that will mean to prices while there remains an embargo on exporting crude. Some say we are on the brink of a retail price drop of epic proportion.... idk It would sure help the economy and country in general, so I remain pessimistic in the current political situation... It would be bad to allow exporting crude while we still import so much at higher prices, but someone in Congress is sponsoring that idea. GLTus!
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