Winter weather curbs US oil production by 2 million barrels per day

Author: Adam Button | Category: News

How does it all net out?

So there's 2 mbpd offline on the production side. But there's around the same amount offline on the refining side.

So then it comes down to demand and you have more for heating oil but less for gasoline because people (hopefully) aren't driving. Maybe not 2mbpd less for gasoline but inventories can certainly handle it.

Ultimately, this is probably good for oil but only marginally.

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