Re: In defense of Coolreit's skepticism
Except that import has to generate a customs ticket….which is counted
Is the report exact ? No. It is wholly dependent on reporting.
That aside….the production numbers favor the accuracy of recent import numbers….refining is heavy toward distillate.
This week in particular they report gasoline production down, yet distillate up…..strongly.
This suggest that domestic grades were replaced in the feedstock…..this suggests higher import.
PS …I’ve said this before….if you double the reported distillate production and if it’s greater than the gasoline number then you can almost guarantee import in the feedstock ……this week was strongly skewed toward distillate production.