Record Gasoline Output Will Curb the Biggest U.S. Oil Glut in 85 Years

Refiners are poised to make gasoline at a record pace this year, keeping the biggest U.S. crude glut in more than 80 years from overflowing storage. Analysts from Bank of America Corp. to Goldman Sachs Group Inc. have said storage space may run out. “A lot of the excess crude we’ve been sitting on is going to get chewed up quickly,” Sam Davis, an analyst for energy consulting company Wood Mackenzie Ltd., said in Houston April 2. Goldman Sachs and Bank of America have said storage builds are increasing the risk of breaching storage capacity, sending prices tumbling.



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