Supply Challenges Continue for Petroleum
Jun 30, 2023
By the GCC Petroleum Team
The Scott City area terminal continues to face challenges in meeting the demand for distillates among local end users. As gloomy economic headlines dominate both the US and global economies, production figures are following a similar downward trend. The number of operational refineries in the US is decreasing, OPEC+ has announced production cuts, and the Chinese economic recovery is still pending. Although diesel prices have significantly dropped compared to the previous year, the current availability of diesel supply remains unstable and is expected to remain so in the short term.
Below is a graph of diesel availability at Scott City for this quarter. So far, we have had 28 days of no supply and 22 days of limited supply.
At Garden City Coop, we remain dedicated to finding solutions to meet the needs of our members. If you are concerned about potential availability issues affecting your operations, we invite you to explore our short and long term storage options. Additionally, we are available to discuss contracting or any other requirements you may have regarding petroleum, oil, and lubricant products. Please feel free to reach out to us, and we will be happy to address your concerns.
The Scott City area terminal continues to face challenges in meeting the demand for distillates among local end users. As gloomy economic headlines dominate both the US and global economies, production figures are following a similar downward trend. The number of operational refineries in the US is decreasing, OPEC+ has announced production cuts, and the Chinese economic recovery is still pending. Although diesel prices have significantly dropped compared to the previous year, the current availability of diesel supply remains unstable and is expected to remain so in the short term.
Below is a graph of diesel availability at Scott City for this quarter. So far, we have had 28 days of no supply and 22 days of limited supply.
At Garden City Coop, we remain dedicated to finding solutions to meet the needs of our members. If you are concerned about potential availability issues affecting your operations, we invite you to explore our short and long term storage options. Additionally, we are available to discuss contracting or any other requirements you may have regarding petroleum, oil, and lubricant products. Please feel free to reach out to us, and we will be happy to address your concerns.