The Summer Blend is here

Gasoline is giving up its premium again.

The summer blend is here now. Meaning the “lack” of refinery capacity is no longer an issue.

The difference here? OPEC is being undercut by Russia. Strong chance oil tumbles.

Not to mention VZ is pumping more and Iran maybe pumping more as well.

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Leap:
Strong chance oil tumbles. Not to mention VZ is pumping more and Iran maybe pumping more as well.

Where do you get your information, do you have an actual source? Iran claims it can double exports if demand is there, but as far as Venezuela goes, I think you are mistaken. Please check the graph in this article.

Crude Oil Production in Venezuela decreased to 735 BBL/D/1K in May from 775 BBL/D/1K in April of 2022.

https://tradingeconomics.com/venezuela/crude-oil-production

Another link:

https://www.reuters.com/world/americas/venezuelas-oil-export…

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drdrab et al,

There are a lot of complaints that I do not document my posts. That is not at all true.

What is true is many of you are not following events closely or are not educated properly in econ.

Things get documented constantly. Discussing these items can NOT mean hunting constantly for news stories already shown here.

drdrab, that is not meant to slam you. Sorry it comes off that way. It is meant to inform you.

To further inform…

https://www.reuters.com/business/energy/exclusive-us-let-eni…

The White House has okayed Italy and Spain to take VZ oil. Dated June 6, 2022.

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The White House has okayed Italy and Spain to take VZ oil. Dated June 6, 2022.

I saw that when it came out as well, but I do not believe it will have an impact.

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I saw that when it came out as well, but I do not believe it will have an impact.

Well think of it this way, who says the tankers need to fly either country’s flag? Who says the crude needs to be refined in Italy or Spain?

Venezuela is possibly up there with SA in reserves. I get it is heavier crude.

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Who says the crude needs to be refined in Italy or Spain?

Did you even read your own link?

A key condition, one of the people said, was that the oil received “has to go to Europe. It cannot be resold elsewhere.”

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“has to go to Europe. It cannot be resold elsewhere.”

don’t be antagonistic.

I never said anything that conflicts with that. I was talking tankers and refineries.

Of course the Europeans are getting the oil.

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Of course the Europeans are getting the oil

A distinction without a difference.
Anyway, I have had enough of this topic, it is cluttering the board and probably boring everyone else.

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A distinction without a difference.
Anyway, I have had enough of this topic, it is cluttering the board and probably boring everyone else.

My regard for you dropped a great deal. You are boring the people here.

If you are invested in oil I get it. You are then a one way ticket. Information is not your strong suit. OFW

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There are a lot of complaints that I do not document my posts. That is not at all true.

Er… uh… Let’s put it this way:

When you claim someone/thing did or did not do something THAT is just that your claim.

Demanding that readers either accept your word for it or do a web search is more than impolite, its an act of hubris.

Every man is entitled to his own opinion, but not his own facts.
– James Schlesinger

Desert (eschew obfuscation) Dave

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Demanding that readers either accept your word for it or do a web search is more than impolite, its an act of hubris.

Every man is entitled to his own opinion, but not his own facts.

Dave,

You did not read the thread. He offered two links. Both outdated on VZ. I came back with the link necessary on VZ oil. He then had problems with that. That link had been shared back on June 2 here.

He then complained it makes no difference. Talk about a mindset that can not see what is going on.

But to your point on the facts, I did present them. The facts were rebuffed by someone not dealing in facts.

Cheers

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But to your point on the facts, I did present them.

Yes, IIRC you did.

I was posting to him, not you.

I thought that was clear in my post.

Evidently not. :frowning:

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Will Iranian or VZ oil go where it’s supposed to go?

Pirates and smugglers are ready and willing to take advantage?

Yeah, the following are about Russian shipments… but does anyone really trust the process to be 100% reliable?

Russian oil tankers turn to stealth shipments under sanctions
https://asia.nikkei.com/Economy/Trade/Russian-oil-tankers-tu…

China is shuttling small ships to tankers at sea to transport cheap Russian oil amid sanctions, report says
https://www.businessinsider.com/russia-china-shuttle-small-s…

EU Drops Plan to Stop Tankers Moving Russian Oil Anywhere
https://www.bloomberg.com/news/articles/2022-05-09/eu-drops-…

FWIW
:alien:
ralph is making no comment about “right or wrong”… just that there are lots of leaks.

EU Drops Plan to Stop Tankers Moving Russian Oil Anywhere

Ralph,

That is useful information. It means that the Russian oil is free to undercut OPEC’s oil.

Dave,

Sorry about that. In that light I was rude. My bad!