Refiners are urged not to boost petroleum exports by the US energy secretary.
White House (Reuters) - This month, the U.S. Energy Secretary encouraged domestic oil refiners to refrain from further raising exports of fuels like gasoline and diesel, noting that, if the facilities do not raise stockpiles, the Biden administration may need to consider taking enforcement action.
As domestic crude oil production increased and global gasoline demand continued to improve this month, U.S. refiners increased exports of oil products.
An above-average Atlantic hurricane season, which can be dangerous for refineries, is predicted by federal weather analysts.
She added that the administration hoped businesses would "proactively address this necessity" of increasing inventory. If that does not occur, the government
Granholm backed off a proposal to outlaw the export of American petroleum at a lengthy meeting with the same refiners in June, but the concept has never been completely abandoned.
according to refiners, may oversupply domestic markets with fuel and force some plants to reduce output, which would reduce supply and drive up prices.
Additionally, refiners in the Northeast purchase oil and fuels; this commerce could be harmed by an export prohibition.