The expectation for an inventory build is built in across all the product areas with an outside risk of a surprise on heating oil.
Craig Pennington
It doesn't matter that the government opens the strategic reserves because there is very little slack in the refining business.
government business matter strategic
surprise risk expectation oil
If we get a normal winter, we'll probably have enough inventories, but if we get a very harsh winter, inventories could collapse to unseen levels. The oil market would be very jittery with any supply disruptions.
market winter normal oil
We had a warm start to the winter but now it is starting to look a bit ugly. The focus will be on cold weather for some time to come.
time focus start weather starting winter ugly cold
Nigeria has always been a difficult place and now they have targeted the offshore platforms. They've never done that before. Obviously, that's very dangerous.
dangerous difficult place
We've been hearing about restarts and the system will be slowly getting back on its feet. There is a deficit of supply so anything that comes from outside the U.S. Is going to be required and will help the situation.
system hearing situation
There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.
day missing mexico
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