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U.S. refineries are operating at about 97% capacity as they compensate for global refining capacity lost to war damage elsewhere. Now, upcoming run-of-the-mill maintenance adds even more pressure on markets.
Many Gulf Coast refiners have a stake in the future of Venezuelan oil exports, as they've spent billions to process the country's heavier crude.
The Permian Basin, which runs through West Texas and New Mexico, produces more oil than most countries.
The real action at the oil meeting in Vienna might be in a stairwell.
