Refining works in the US

Crude prices rallied yesterday, above 85 $/b for ICE Brent crude, despite a rather neutral data release from the EIA. Indeed, crude stocks continued to be depleted at a rapid pace (4.6 mb) despite multiple maintenance and outages plaguing the US refineries (fire at the Baytown refinery broke last week). On the refined product side, stock builds in gasoline (8mb) and diesel (2.5 mb) reflected a still rather poor demand, especially on the gasoline side. Refining works will continue to reduce the product output in PADD3, as Valero’s hydrocracker in Port Arthur (57 kb/d) will be offline until the end of January for planned maintenance which will lower the diesel and jet output of the 600 kb:d refinery. Its 75 kb/d FCC unit, primarily producing gasoline, will be down at the end of February.

Share this news :

You might also read :

ES-economy
December 10, 2021

7% inflation in the US?

Profit taking in the equity markets yesterday, particularly in the wake of the anti-Covid measures taken in the UK, reminded everyone that the fact that the…
ES-economy
December 22, 2021

Roller coaster in Turkey

The Turkish currency has rebounded strongly against the USD since the beginning of the week (+40% from Monday’s low) thanks to a disguised rate increase. The government…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]