US oil, gas demand recovers; production mixed

07/01/2002
Special Report: Midyear ForecastWorldwide demand for petroleum products will increase this year as economic recovery takes hold, though strong prices will limit demand growth. In the US, demand for motor gasoline will escalate, but consumption of other oil products will wane. Total US liquids production will increase. Output of crude and condensate will inch up, and natural gas liquids production will recover from a year ago, but US marketed production of natural gas will decline this year. Gas imports will be nearly unchanged.Refining margins will be suppressed under the weight of high crude costs, low product prices, and plentiful inventories. Refining capacity utilization will be littl...
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