U.S. energy secretary urges refiners not to increase fuel exports
WASHINGTON (Reuters) - The U.S. Energy Secretary urged domestic oil refiners this month to not further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider taking action if the plants do not build inventories.
U.S. refiners have boosted oil product exports this month as domestic crude oil production rose and global fuel demand continued to recover.
Energy Secretary Jennifer Granholm, in a letter sent Aug. 18, urged seven refiners including Valero, ExxonMobil and Chevron, to build supplies of fuels as the United States enters peak hurricane season.
"Given the historic level of U.S. refined product exports, I again urge you to focus in the near term on building inventories in the United States, rather than selling down current stocks and further increasing exports," Granholm said in the letter sent to refiners, a copy of which was seen by Reuters.
https://www.yahoo.com/news/u-energy-secretary-urges-refiners-180205616.html