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Marathon See Steady Demand for Clean Products in 2024

OIL PRODUCTS

The US largest crude refiner Marathon Petroleum expects steady year-on-year demand for gasoline, diesel, and jet fuel, CEO Michael Hennigan said in an earnings call.

  • This is despite the addition of new refineries coming online globally in 2024, he added.
  • Marathon also expect record levels of global oil demand growth in 2024.
  • In 2023, Marathon’s refineries ran at 91% utilisation rates, with a total throughput of 2.9m b/d.
  • Its refining margins fell 38% to $17.79/b in Q4, amid a fall in prices.

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