Oil Inventories - Oil Inventories 1 Oil Inventories Anna...

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Oil Inventories 1 Oil Inventories Anna Veldman April 2, 2008 Professor Edelman Economics 210-05
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Oil Inventories 2 The slowing economy is now even having an impact on the oil refining companies. The demand for gasoline is not as high as it has been in the past because of the slow economy and that is giving the companies less of a reason to refine crude oil into fuel. Demand may even drop off more after the Fed said Wednesday that a recession is possible. Now that the companies are seeing less demand they are seeing a bigger inventory of crude oil, but less of an inventory of gasoline. These findings have led gasoline stocks to go down. Gasoline inventories went down by 4.5 million barrels which is a very shocking number considering many analysts were only expecting a 2 million barrel decrease. The expectation is that refineries would begin to build up inventories of gasoline for the summer months, however this is not the case and in fact it is quite the opposite. The record highs have been again reached for gas prices and as a result stocks are dropping, on the other had crude
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This essay was uploaded on 04/07/2008 for the course ECO 210 taught by Professor Sun during the Winter '08 term at Grand Valley State University.

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Oil Inventories - Oil Inventories 1 Oil Inventories Anna...

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