US asphalt stocks headed for five-year low: NuStar CEO

摘要

New York-US asphalt stocks could hit a five-year low by the time the 2009 asphalt season kicks off in the second quarter on a combination of refinery run cuts and lower imports, the CEO of midstream operator and asphalt producer/marketer NuStar Energy LP said January 26.Citing the latest US Energy Information Administration data for asphalt stocks, through October 2008, which show US levels are more than 23% below 2007 and about 10% below the five-year average, NuStar's Curt Anastasio said the declines were primarily driven by a 10% drop in asphalt production and a 45% drop in imports, mostly from Venezuela.