August 28th, 2020
In this part of the transcript, the speaker discusses the global diesel market, demand ahead of Thanksgiving, and global differentials in crude oil. They mention the widening deficit in total product flow and total oil and products, with a focus on the shortage of middle distillate and the impact of trucking weakness and a global recession on demand. The speaker also analyzes land storage deficits in various regions, including the west of Suez and east of Suez, as well as the surplus in floating storage. They highlight the presence of older tankers being used for storage due to the high amount of crude in transit. Overall, the speaker emphasizes the pressure on the physical market and the impact on global flows and differentials.
Key topics: global diesel market, demand ahead of Thanksgiving, global differentials in crude oil, total product flow, total oil and products, middle distillate, trucking weakness, global recession, land storage deficits, floating storage surplus.
#globaldieselmarket #Thanksgivingdemand #crudedifferentials #totalproductflow #middledistillate #truckingweakness #globalrecession #landstorage #floatingstorage
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