U.S. refineries to find strong demand

  • There have been strong demands for diesel fuel from U.S. refineries and the country has now become the top exporter for petroleum products in the world.

    Fadel Gheit, senior energy analyst at Oppenheimer said "any companies with refining assets on the Gulf Coast are expanding their export terminals." Gheit also mentioned the profitability to not be as clear as the trend. 

    Refineries in the U.S. have an advantage and natural gas is cheaper in the United States. 

    Moreover, oil production in the country has increased, which has made oil more abundant and cheaper than it is in the world market. 

    Tagged as: U.S. becomes refiner to the world, U.S. refineries, Cheap and abundant oil in the U.S., Business News