Recent declines in demand for petroleum products have contributed to
record increases in U.S. commercial crude oil inventories.
Transportation fuel demand has decreased as a result of reduced economic
activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease
(COVID-19). Refiners have been able to reduce the amount of material
they run through refineries (as measured by gross inputs, which includes
crude oil, unfinished oils, and natural gas plant liquids) relatively
quickly in response to falling demand, but crude oil production has not
responded as quickly, leading to large crude oil inventory increases.
https://www.eia.gov/todayinenergy/detail.php?id=43555&src=email
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