122 🚨Within 10 to 14 days, Iran won’t be able to store oil and will have permanent long term damage to oil wells for extracting oil. Oil wells perform poorly after you stop the flowing process. Iran exports oil, but it also imports gasoline and diesel. Iran lacks the ability to refine enough of their… (twitter.com) posted 86 days ago by GDZeus 86 days ago by GDZeus +122 / -0 6 comments share 6 comments share save hide report block hide replies
We have a surplus of light crude, we produce more than our refineries can refine.
We have a deficit of heavy crude, because many of our refineries require heavy crude.
To complicate it further, just because we import crude doesn't mean we don't immediately turn around and export the product refined from crude.
And the 20+ million barrels a day of consumption are petroleum product, not necessarily crude oil.