Refinery shutdowns

[llm_cfp]

Dan,
Been reading a lot about refineries shutting down creating a head wind for oil prices. When do you think this will happen and how long do they stay down? How do you see this playing out?

[dan_s]

Refineries have to shut down for regular maintenance a couple times a year. They usually do it between peak periods and to make changes to their product mix. Each year, many refiners shift from making gasoline to heating oil. This is not new.

Consumption of refined products is the real driver of crude oil demand.