Refining Squeeze

Even amid shortages and high prices, refiners aren’t looking to expand

Allen Baker

for Petroleum News

Crack spreads are booming and refiners are showing huge profits. But the cash flow isn’t being directed to new investments in the industry, and it likely won’t be for some time, if ever. In the United States, refinery capacity is down by 900,000 barrels a day, according to the Energy Information Adm....

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