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Marathon Boosts Crude Processing in Q2: Reuters

OIL PRODUCTS

Marathon Petroleum processed 16% of the US’ total demand at its 13 plants in June, even as fuel demand was hampered by lower manufacturing activity and renewable fuel supply, Reuters said.

  • It also saw a quarterly crude capacity utilisation of 97%, up from 93% last year. This led to total throughput of 3.1m b/d in Q2, up 0.2m b/d on the year.
  • Marathon expects total refinery throughput to be 2.85m b/d for Q3.
  • Weak demand has impacted Marathon’s refining margins which averaged $17.37/b in Q2, although up from $22.10/b on the year.
  • US refiners were able to ramp up processing capacity to 93.5% in Q2, up from 91% in the same quarter 2023, according to the EIA.
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