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Harvey may force America to use emergency stocks
30/08/2017
The International Energy Agency has revealed that the United States may release some emergency stocks in case of prolonged interruptions caused by the hurricane "Harvey" harm to the oil installations.
According to the agency, record stocks of oil and refined products will offset the potential shortage caused by the natural disaster.
Some crude and about 2 million barrels per day of refining capacity were halted as hurricane Texas hit Texas, killing at least eight people and causing massive flooding.
Although the International Energy Agency (IEA) said on Monday it still did not see a need for withdrawal from emergency stockpiles, the agency's oil markets chief told Reuters the organization was monitoring the situation closely and would move if necessary.
He added that the International Energy Agency and the US Department of Energy continue to assess the damage but it is too early to talk about the procedure followed if necessary, noting that "does not know the extent of the continued closure of oil refineries."
According to the Energy Agency, the current US commercial inventories of about 1.3 billion barrels, including 450 million barrels of crude. Excluding strategic oil stocks.
America consumes about 20 million barrels of oil a day, about half of it for gasoline.
http://aletejahtv.org/permalink/179157.html
30/08/2017
The International Energy Agency has revealed that the United States may release some emergency stocks in case of prolonged interruptions caused by the hurricane "Harvey" harm to the oil installations.
According to the agency, record stocks of oil and refined products will offset the potential shortage caused by the natural disaster.
Some crude and about 2 million barrels per day of refining capacity were halted as hurricane Texas hit Texas, killing at least eight people and causing massive flooding.
Although the International Energy Agency (IEA) said on Monday it still did not see a need for withdrawal from emergency stockpiles, the agency's oil markets chief told Reuters the organization was monitoring the situation closely and would move if necessary.
He added that the International Energy Agency and the US Department of Energy continue to assess the damage but it is too early to talk about the procedure followed if necessary, noting that "does not know the extent of the continued closure of oil refineries."
According to the Energy Agency, the current US commercial inventories of about 1.3 billion barrels, including 450 million barrels of crude. Excluding strategic oil stocks.
America consumes about 20 million barrels of oil a day, about half of it for gasoline.
http://aletejahtv.org/permalink/179157.html
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