
US dependence on fuel from the Middle East may rise as Saudi Arabia plans a $50 billion expansion in its refining fleet, the head of the US refining industry association said.
President George W Bush has said repeatedly he wants to cut US reliance on petroleum supplies from the Middle East, but analysts say the US refining industry is struggling to keep up with demand growth.
New supplies of petroleum products, such as gasoline and diesel, from Saudi Arabia may be needed to meet US demand if domestic plants are unable to keep up, the president of the National Petrochemical and Refiners Association said.
"We could get to the day when we import a lot more of our product from the Middle East than we do now, on top of the crude," Bob Slaughter said in an interview.
Saudi Arabia is the world's leading crude exporter and the US is the top consumer of oil and petroleum products.
US imports of Saudi Arabian petroleum products hit a peak of nearly 5.5 million barrels per month in July 1996 but have since fallen. So far this year, petroleum product imports from the kingdom have averaged less than 1 million barrels per month, according to the US Energy Information Administration.
A lack of global refining capacity is a major reason for the rise in gasoline prices, analysts have said.
Saudi Arabia's state oil company has said that together with its partners it would spend about $50 billion over the next five years on refinery projects at home and abroad.