摘要 : Just as the spectre of COVID-19 recedes,other plagues bedevil the downstream sector:as demand kicks in with the summer driving season,motorists face epic gasoline and diesel prices.Several factors are contributing to the high pric... 展开 Just as the spectre of COVID-19 recedes,other plagues bedevil the downstream sector:as demand kicks in with the summer driving season,motorists face epic gasoline and diesel prices.Several factors are contributing to the high prices but,ironically,a shortage of crude is not one of them.While other jurisdictions scramble to replace sanctioned Russian crude,North America is awash in oil.Oil output in western Canada rose from 3.9 million bpd in 2020 to 4 45 million bpd by the end of 2021.Canada now e approximately 4 million bpd to the US,and the expected to rise to 4.2-4.4 million bpd by 2026 from the Texas Permian basin has recovered to pre-COVID-19 levels;output of light,tight crude exceeded a record 5 million bpd in February 2022,and is expected to reach 5.6 million bpd by the end of 2022,before climbing to 6.5 million bpd in 2023.The number one reason for high fuel prices is a shortage of capacity.Over the last two years,refiners in the US dosed or suspended over 1 million bpd at ageing refineries.Currently,the US has approximately 18 million bpd capacity to produce gasoline,diesel and jet fuel,and the average refinery usage is standing at an impressive 95%.That leaves no wiggle room,however,and planned maintenance shutdowns have been postponed. 收起