GCC: EIA: US refineries running at near-record highs
Posted: Wed Aug 15, 2018 12:24 pm
US refineries are running at record levels in response to robust domestic and international demand for motor gasoline and distillate fuel oil, according to the US Energy Information Administration (EIA).
For the week ending 6 July 2018, the four-week average of US gross refinery inputs surpassed 18 million barrels per day (b/d) for the first time on record. . . .
Despite record-high inputs, refinery utilization as a percentage of capacity has not surpassed the record set in 1998. Rather than higher utilization, refinery runs have increased with increased refinery capacity. US refinery capacity increased by 862,000 barrels per calendar day (b/cd) between 1 January 2011 and 1 January 2018. . . .
The four-week average of finished motor gasoline product supplied—EIA’s proxy measure of US consumption—typically hits the highest level of the year in August. Weekly data for this summer to date suggest that this year’s peak in finished motor gasoline product supplied is likely to match that of 2016 and 2017, the two highest years on record, at 9.8 million b/d. The four-week average of finished motor gasoline product supplied for the week ending August 3, 2018, was at 9.7 million b/d. . . .