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SThis slide compares two winters where we have
had cold weather surges: the winter of 1999/2000, when we had a brief cold
spell and supply pinch, and the winter of 2000/2001, which was a more
protracted, tight supply/demand balance.
These two examples illustrate that, with sudden demand surges brought
on by cold weather, distillate imports begin to flow from Eastern Europe,
Latin America, Asia, and Western Europe.
Monthly imports levels can double in these cold winter situations.
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