Originally Posted by
Name User
It's not working. No company will put their vessels at risk when lead time to get a new one is measured in years.
Ok let's say they don't care and they start moving again. Millions of gallons of output are offline and infrastructure is getting torched. We're at 20m a day deficit now, going to 5m a day isn't a whole lot better.
There is no short term option to get us back to Feb pricing. I'd love to be wrong, though. But every day that goes by until then is $20m more down the hole.
There was a way to do this and it involved planning for it five+ years ago. Hell they didn't even bother filling our SPR. It's still at 60% and much of that can't even be accessed without damaging the wells themselves apparently.
Who drained the SPR though? Hmmm?
Panicans. Relax. World oil production is a different landscape than it was 5,10,15 years ago.
Straights will be open soon (just checked its actually open now). Any op there always factors in any potential closure of the straight.
This is speculation. Market bros are driving this, not supply. This operation is not even a week old, it will be over soon and you all can go back to dooming about the lack of dancing cats on Tik Tok.