Chart of the Week: Oil Demand versus Refining Capacity

Energy continues to be a key issue in the global expansion. Gradual increases in demand worldwide, combined with China’s insatiable thirst, have finally exceeded refining capacity.

Oil Demand versus Refining Capacity
Source: WSJ

Oil prices will continue to be a long term drag on the economic expansion. The key will is in watching the Oil Services Sector.

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Quote of the Day:
“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”
Sir John Templeton

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