Publications: Notes at the Margin

Declining US Crude Supply (May 11, 2020)


This week’s report focuses primarily on the changing US crude oil supply. We present an update here of the analysis introduced last week.


The report also discusses a suit filed against Vitol and SK Energy by the State of California that alleges manipulation of the California gasoline market. Using a model of retail gasoline prices first presented here in 2018, we find that the allegations, if proven, could cost the two companies more than $6 billion in damages. For Vitol, that amounts to roughly its annual profit.


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