refining margins have improved... good article RE: improvement on refining margins...CVE needs it , 'cause right now its being treated as a "dog with fleas"...dwdc
"U.S. refining margins have ticked up in recent weeks from the multi-year lows hit in September.
This year, the September monthly average refinery margin globally fell to its lowest for the month since the pandemic year 2020, according to data from the U.S. Energy Information Administration (EIA).
In recent weeks, due to lower-than-average U.S. gasoline stockpiles, the U.S. margins have recovered slightly.
The 3-2-1 crack spread – which is a theoretical refinery crude yield to produce two barrels of gasoline and one barrel of diesel for every three barrels of crude input – has increased to about $18 per barrel so far this month, up from $15 per barrel back in September, according to Kemp’s analysis.
Next year, the closing of two refineries in the U.S. is expected to slow the decline of U.S. refining margins, the EIA said earlier this month."