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The Energy Report - Supply Surge

Oil prices fall as US oil supply rises to a record for as long as the Energy Information Administration has been keeping records. You have to go back almost 70 years to find a time when energy supplies were this high at this time of year. The reason is because of the continuing surge in US and Canadian oil production and low crude runs as refiners are in maintenance.

The Energy Information Agency reported that U.S. crude oil refinery inputs averaged slightly over 14.0 million barrels per day during the week ending March 1 2013,480 barrels per day below the previous week's average. Refineries operated at 82.2 percent of their operable capacity last week. Gasoline production decreased last week, averaging just over 8.6 million barrels per day. Distillate fuel production decreased last week, averaging less than 4.3 million barrels per day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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