Pipeline giant Energy Transfer will be asking the Texas Railroad Commission to allow it to idle two pipelines in Texas and turn them into storage for around 2 million barrels of oil, the company told Argus Media this week. U.S. oil producers are struggling amid collapsing demand and oil prices while inventories across America are growing. Producers in Texas struggle to place their barrels with the U.S. Gulf Coast refineries, which are cutting crude processing rates in response to plunging fuel demand. The massive oil demand drop in the U.S. and overseas due to lockdowns in the COVID-19 pandemic has had U.S. oil producers scrambling to find storage for their produced barrels when no one wants more oil right now. Earlier this month, Enterprise Products Partners applied to open the northbound capacity of its Seaway pipeline, offering U.S. oil producers struggling to place their oil near the Gulf Coast […]