MacroVoices #373 Ole Hansen: Commodities Update
Macro Voices
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The Impact of New Refinery Capacity on Crude Oil Demand
We're seeing a massive amount of new refinery capacity coming online this year. And that basically means that over time, the owning refineries is not going to be the big money spinners as it's been in the past. If we start to see them curb production simply because margins are not come down too much, then that will in this short term have a negative impact on crude oil demand.
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