Price relief unlikely to arrive quickly even if wars end
2Sep 23 · 3d ago · 1 article · 1 post · 2 sources · development 2 of 3
Experts note that repairing and building refineries takes several months to years. U.S. refineries were running at 97% capacity as of Sept. 11; resolving the crisis requires not just an end to conflicts but also inventory rebuilding and restoration of normal trade flows.
pbs.org
“It will still take some time for prices to come back down, simply because inventories will have to be rebuilt, refineries will have to be put back up and running, and the standard flow of trade would have to be reestablished.”
Kenneth Gillingham
Paul KrugmanEconomistKenneth GillinghamYale environmental and energy economics professorJaniv ShahVice president, Rystad EnergyToril BosoniHead of International Energy Agency oil industry divisionGregory DeYongSouthern Illinois University supply chain management professor
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