{"id":11015,"date":"2015-08-14T08:37:57","date_gmt":"2015-08-14T13:37:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11015"},"modified":"2015-08-14T08:37:57","modified_gmt":"2015-08-14T13:37:57","slug":"oil-storage-tanks-filled-to-levels-not-seen-in-80-years","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11015","title":{"rendered":"Oil storage tanks filled to levels not seen in 80 years"},"content":{"rendered":"
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Oil storage tanks filled to levels not seen in 80 years<\/a><\/h3>\n<\/div>\n

U.S. oil inventories at levels not seen in at least 80 years<\/strong><\/p>\n

North American oil prices could take a hit this fall as there are renewed concerns about a lack of storage capacity.<\/p>\n

A recent report by the U.S. Energy Information Agency suggests crude oil inventories “remain near levels not seen for this time of year in at least the last 80 years.”<\/p>\n

The concern is what will happen this fall and whether oil supplies will hit “tank top.” North American refineries are running at near capacity this summer, buying up oil and converting it to gasoline and other products. Several refineries will shut down in a few months for maintenance and there could be more unplanned outages because refineries are operating at such a high level.<\/p>\n