The Biden Surge is tracked here.
Data points of interest to be followed monthly for the next six months:
- days of supply of US crude oil;
- amount of distillate in storage;
- refiners percent of operating capacity;
- US exports of crude oil; refined products;
- destination of US crude oil exports; refined product exports;
If the one-million-bopd-SPR-release is announced, data points that will be of interest:
- refiners operating at 92% operating capacity; will that percentage increase?
- what product is most critical right now? diesel fuel
- will refiners get the "right" oil to optimize diesel fuel production?
- I don't think it's a zero-sum game, but some suggest refiners could produce more diesel at expense of gasoline
- currently there's a 26.6 day supply of crude oil; at the mid-point
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