• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 5 hours Oil prices going Up? NO!
  • 15 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 14 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 8 mins The Tony Seba report
  • 20 hours Oil prices going down
  • 22 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 hour Saudi Arabia turns to solar
  • 13 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 2 days Oil Buyers Club
  • 7 hours Kenya Eyes 200+ Oil Wells
  • 7 hours Are Electric Vehicles Really Better For The Environment?
  • 2 days Gazprom Exports to EU Hit Record
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 22 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days Could Venezuela become a net oil importer?
  • 21 hours Tesla Closing a Dozen Solar Facilities in Nine States
Alt Text

The Fourth Industrial Revolution Is On The Horizon

The Fourth Industrial Revolution is…

Alt Text

Canada’s Oil Crisis Is Far From Over

While the Canadian government has…

Alt Text

Permian Discount Could Rise To $20 Per Barrel

Midstream constraints plaguing Permian drillers…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory 1st September, 2017

Gasoline

Hurricane Harvey has taken out about a quarter of the United States’ crude oil refining capacity, after the country’s biggest refinery, Motiva’s Port Arthur facility, began shutting down Wednesday. This has caused gas prices at the pump to soar - and the soaring is far from over. Investment bank analysts are warning that the effects of the disaster will continue to be felt for at least two months.

Daily gasoline demand in the U.S. is about 9.7 million barrels, while refinery output of the most popular fuel has dropped to less than 8 million bpd. Fortunately, there is about 230 million barrels of gasoline in stock, so a large-scale shortage is unlikely. Temporary shortages, however, might occur in certain parts of the country as a number of pipelines carrying fuels from the Gulf Coast refineries to other parts of the U.S. shut down or operate at reduced capacity as a result of damage from the storm.

Heavy rains continue, which will slow down the recession of the floods that were one big reason for the refinery shutdowns, meaning the adverse effects of the hurricane will be felt for longer before everything goes back to normal. For plants in the Houston area, for example, it may take more than two weeks to resume normal operations and that’s with minimal damage from the storm. The good news is that some refiners, namely Valero and Citgo, said they are already trying to restart operations.

Deals, Mergers & Acquisitions

•…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News