Antoine Halff
Antoine Halff
alternate changes days demand driving effect gasoline immediate increases late policy speed
It's late in the game. The only policy changes that would have an immediate effect would be demand restraints, such as increases in gasoline taxes, alternate driving days or enforcement of speed limits.
conversion cut deep effort gave oil rhetoric share
If it's not rhetoric it's an effort to recapture the share of the oil cut that they gave away to deep conversion refiners,
adjustment came impact less market physical release sent sources
Overall, I think it sent the right message. But at the end of the day, the physical impact of the IEA release was much less than you would have expected. A lot of the market adjustment came from other sources than IEA countries.
crude level main market mostly problem product short shortage
In the short term, the main market problem at the refining level is the shortage of product, not inputs. It's mostly a problem of product (gasoline), not crude oil.