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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2958)	3/22/2004 12:09:15 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Soaring Global Demand for Oil Strains Production Capacity Sunday, March 21, 2004 09:46 PM ET NEW YORK -- Global bottlenecks are threatening to further strain petroleum and gasoline supplies, just as demand soars and oil prices approach 20-year highs, Monday's Wall Street Journal reported. The nations belonging to the Organization of Petroleum Exporting Countries are hitting their limit to produce light, sweet crude, the preferred grade of oil used to make gasoline, especially in the U.S. Bottlenecks also plague the petroleum industry's so-called downstream end, which refines oil into essential consumer products such as gasoline. Global refinery capacity hasn't kept pace with burgeoning demand for oil products in recent years and, by one estimate, could fall behind as early as the end of this year. At the same time, strained shipping capacity has driven up freight costs. Tankers spend more time on the water carrying larger volumes of petroleum to the U.S. and China from the far-off production centers of the Middle East. quicken.com