Keith Schaefer: Refineries Will Be Big Winners When Price Gaps Widen
The Energy Report: There’s been a lot of talk about the spread between West Texas Intermediate (WTI) and Brent narrowing considerably this year. What are you expecting to happen? Keith Schaefer: The Street is . . . → Read More: Keith Schaefer: Refineries Will Be Big Winners When Price Gaps Widen Similar posts: Oil Distribution Hiccups Will Be Resolved: Alistair Toward The Energy Report: As the oil and gas analyst for... All signs point to explosive rise in the gold price: Part 2 [Editor’s note: For part I of this article, please... Oil price limbo and Canada’s oil sands: Part II Energy stock picks provided; Oilexco, Oilsands Quest discussed [Editor’s...
The Energy Report: There’s been a lot of talk about the spread between West Texas Intermediate (WTI) and Brent narrowing considerably this year. What are you expecting to happen?
Keith Schaefer: The Street is expecting a narrower spread, but I have the opposite view for a pretty straightforward reason. It starts with light oil. The amount of light oil being produced in the U.S. due to the shale revolution is going to completely overwhelm the refineries as early as July. Over the last 25 years, oil refineries in the U.S. have been moving away from light oil to heavy oil.
But … [visit site to read more]
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