Refinery mishaps hamper oil output

U.S. oil refineries are stretching their aging facilities to boost output amid spiking gas prices.

A series of refinery mishaps in recent weeks has jarred the oil market, crimping output in an industry running flat out to meet surging demand. Some U.S. refineries are operating at up to 99% capacity, according to Bob Slaughter, president of the National Petrochemical & Refiners Association.
“There is less room for error when you’re running at high utilization rates for a very long time,” he says.

…Troubled refineries are a global worry. On July 26, an explosion shuttered a Russian refinery in Novo-Ufimsk. And Europe faces a shortage of diesel fuel by 2015 unless new refinery investments materialize, according to consultants Wood Mackenzie.

USA Today