“Supplies are ample and stockpiles are rising. We're still lacking spare production capacity but the market is fairly happy that there's a good buffer in place in the form of inventories.”
“The market is perfectly well supplied at the moment but spare capacity is very limited.”
“There is no shortage of actual physical supplies; what there is is a shortage of spare capacity.”
“The market remains very tight. There is a thin cushion of spare capacity. And the market keeps wanting to grow, even with these prices. Demand keeps going up, and there's the problem.”
“We cautiously welcome OPEC's decisions to make its full spare capacity available to the market and to commit to a future dialogue,”
“Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.”
“This is really much more important than OPEC supply as their spare capacity is largely heavy and sour and the real shortage is capacity to upgrade such fuels anyway,”
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