Tallgrass Energy, U.S. Strategic Petroleum Reserve: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
U.S. Strategic Petroleum Reserve Approaches 20-Year Low - Crude oil in the U.S. Strategic Petroleum Reserve (SPR) fell by 4.2 million barrels last week to 571.3 million barrels, its lowest since May 2002, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. That was the biggest weekly decline in the SPR since August 2011, the EIA said.

CORPORATE
Tallgrass Energy Looks to Growth in International Markets - U.S. pipeline operator Tallgrass Energy (Leawood, Kansas) is looking for growth from international markets and recently hired a business development professional to lead such efforts, the company said on Wednesday. Tallgrass hired Sally Sun in January as vice president of international business development to oversee its outreach to international customers "on a range of opportunities," the company said in a statement.

REFINING
India Hikes Crude Oil Processing to Meet Demand Rise - Crude oil processing by Indian refiners rose about 10% year-over-year in February, provisional government data showed, as demand in the country grew. Throughput in February rose 9.8% to 5.35 million barrels per day, the data showed on Tuesday. India's fuel consumption had its biggest year-over-year jump since August 2021, up 5.4% in February compared with the same month in 2021. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.