Production of Light Tight Oil (LTO), also known as “Shale Oil”, has grown quickly over the last decade. The discussion regarding LTO has always been about supply and the ability of LTO producers to continue to grow production over the coming years. Little has been written regarding the demand for LTO and whether refineries can process this extra light oil. This analysis attempts to start a conversation to determine how much light crude oil the global refinery system can absorb and how much LTO can grow before there is oversupply.

中文翻译：

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美国轻质油：这真的是需求问题，而不是供应问题？

在过去的十年中，轻质油（LTO）（也称为“页岩油”）的生产增长迅速。关于LTO的讨论一直是关于供应以及LTO生产商在未来几年中继续增加产量的能力。关于LTO的需求以及精炼厂是否可以加工这种多余的轻质油的报道很少。该分析试图开始对话，以确定全球炼油系统可以吸收多少轻质原油，以及在供过于求之前可以增长多少LTO。