Peak Oil News: Tight U.S. Fuel Stockpiles a Concern - Energy Dept.

Wednesday, June 23, 2004

Tight U.S. Fuel Stockpiles a Concern - Energy Dept.

Reuters.com

U.S. fuel stockpiles are languishing well below average, leaving the world's largest energy consumer vulnerable to a summer gasoline inventory crunch or tight supplies of heating oil next winter, the Department of Energy said on Wednesday.

The tightening inventories of fuel come even as U.S. supplies of crude oil -- the feedstock refiners use to make gasoline, diesel and other refined products -- swell toward the middle of the average range, thanks in part to an OPEC decision to increase exports to the world market.

"The bad news is that product inventories are not faring as well as crude oil inventories, and with little spare refining capacity available, it may take increased refined product imports to improve this situation," the DOE said in a weekly report.


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