Tor Kartevold
Tor Kartevold
accept arabia capacity close full heavy hesitant lower operating producer production spare worth
As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. Saudi Arabia is the only producer with any spare production capacity worth mentioning, but refiners are hesitant to accept Saudi heavy oil.
affected crude depends less manageable serious situation water
The crude situation is less serious and more manageable than that of refineries. It all depends on how water affected refineries in the area.
buffer crude damage oil releasing reserve strategic
With damage to crude production, releasing oil from the strategic reserve would be a real buffer and could alleviate the situation.