Good News (Price will go down):
Today: Crude oil prices are way down + refiners’ margins are down by ~50%
Future: High prices ~$100/barrel for oil and $9+ for gas mean that economically recoverable reserves rise. e.g. Eagle Ford sees a fifteen-fold increase from 0.5 billion barrels to 8.4 billion barrels
Bad news:
Refineries that have been running “maxed-out” (95% utilization) now need to be shut down for maintenance.
