Birdwatch Note Rating
2022-07-12 11:06:13 UTC - HELPFUL
Rated by Participant: E885231222A8461BF54B522BCBC64818C83B0A29C3301BC9F31ABEEDCE2BE445
Participant Details
Original Note:
The SPR contains sour crude, to which U.S. refiners do not like to buy due to its high sulfur makeup. That means it would be more costly and work intensive to refine, so these stateside refiners refuse to buy it. Overseas markets are one of the few buyers right now. https://www.bloomberg.com/news/articles/2021-11-23/biden-releases-sour-crude-that-s-out-of-favor-with-u-s-refiners#xj4y7vzkg https://www.washingtonpost.com/business/energy/the-us-is-depleting-its-strategic-petroleum-reserve-faster-than-it-looks/2022/06/17/3b899c40-ee04-11ec-9f90-79df1fb28296_story.html https://www.investopedia.com/terms/s/sourcrude.asp
All Note Details