MNI BRIEF: Higher Defence Spend To Weigh On EU Ratings -Scope

MNI China Daily Summary: Friday, February 21

MNI INTERVIEW2 -Banxico Optimistic On Non-Core Inflation-Heath

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI China Press Digest Feb 21: Consumption, Financing, Sino-EU

MNI: UK FEB FLASH MANUF PMI 46.4 (FCST: 48.5); JAN 48.3

MNI: EUROZONE FEB FLASH MANUF PMI 47.3 (FCST: 47.0); JAN 46.6

MNI: GERMANY FEB FLASH MANUF PMI 46.1 (FCST: 45.5); JAN 45.0

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AMERICAS OIL: EIA Oil Report Shows Steep Deline in PADD 2 Utilization  

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

EIA Oil Report Shows Steep Deline in PADD 2 Utilization     

  • Weekly US percent utilization of refinery operable capacity fell nationally to 84.9% from 85.0% a week ago. PADD 1 utilization fell to 82.1% from 83.7% a week ago. PADD 2 utilization fell to 91.8% from 94.6% a week ago. PADD 3 utilization fell to 81.9% from 82.0% a week ago. However, PADD 5 utilization rose to 85.8% from 81.2% a week ago.
  • Bloomberg reports production data may be showing refiners switching yields to maximize diesel runs, which would make sense given recent cold snaps in the US and the one forecast for this week. Gasoline production was down 156k b/d last week, jet fuel was up 52k b/d, and diesel was up 180k b/d. With refiner utilization rates flat at 85% on the week, it makes it even more likely that plants are switching outputs to the most in-demand product.
149 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

EIA Oil Report Shows Steep Deline in PADD 2 Utilization     

  • Weekly US percent utilization of refinery operable capacity fell nationally to 84.9% from 85.0% a week ago. PADD 1 utilization fell to 82.1% from 83.7% a week ago. PADD 2 utilization fell to 91.8% from 94.6% a week ago. PADD 3 utilization fell to 81.9% from 82.0% a week ago. However, PADD 5 utilization rose to 85.8% from 81.2% a week ago.
  • Bloomberg reports production data may be showing refiners switching yields to maximize diesel runs, which would make sense given recent cold snaps in the US and the one forecast for this week. Gasoline production was down 156k b/d last week, jet fuel was up 52k b/d, and diesel was up 180k b/d. With refiner utilization rates flat at 85% on the week, it makes it even more likely that plants are switching outputs to the most in-demand product.