Advertisement
Advertisement

U.S. says oil companies ‘must do more’ to build domestic fuel levels

By:
Reuters
Published: Sep 30, 2022, 15:51 UTC

By Arathy Somasekhar HOUSTON (Reuters) - U.S. fuel supplies are "unacceptably" at or near 5-year lows amid hurricane threats and the oil industry must do more to address prices and demand, a Department of Energy spokesperson said on Friday.

A pump jack operates in front of a drilling rig owned by Exxon near Carlsbad

By Arathy Somasekhar

HOUSTON (Reuters) – U.S. fuel supplies are “unacceptably” at or near 5-year lows amid hurricane threats and the oil industry must do more to address prices and demand, a Department of Energy spokesperson said on Friday.

The spokesperson was commenting on a report that the chief executive of Exxon Mobil Corp, the largest U.S. oil producer, had warned the Biden Administration against limiting U.S. fuel exports.

Exxon did not immediately reply to a request for comment.

“The nation is facing serious risks from hurricanes and in some parts of the country, oil and gas supply levels are unacceptably at or near 5-year lows,” the Department of Energy spokesperson said in an emailed statement.

“The administration has impressed upon the oil and gas industry that it must do more to ensure fair prices and adequate supply for all Americans, while meeting the needs of our allies,” the spokesperson added.

U.S. Energy Secretary Jennifer Granholm last week said the Biden administration at that time was not considering restrictions on U.S. oil product exports.

(Reporting by Arathy Somasekhar; additional reporting by Sabrina Valle; Editing by Bill Berkrot)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement