August 16, 2023 15:33 GMT
Oil Products: End of Day Summary
US diesel and gasoline cracks trended higher post EIA data amid lower distillates and gasoline output.
- US gasoline crack up 1.2$/bbl at 39.79$/bbl
- US ULSD crack down -0.4$/bbl at 46.01$/bbl
- Gasoil SEP 23 down -0.1% at 882$/mt
- US gasoline production fell by 336kbbl to 9.585mnbbl in the week ending 11 Aug, while distillates output declined by 182kbbl to 4.729mnbbl. Distillate stocks showed a build of 296kbbl last week compared with expectations of a draw 780kbbl.
- Germany’s OMV has completed turnarounds at its Schwechat refinery.
- ExxonMobil plans two multi-unit overhauls at its Beaumont, Texas refinery in 2024.
- Energy Aspects director of research Amrita Sen comments on Chinese oil demand, noting bullish travel data in a CNBC interview and further air travel strength for August.
- Gasoline and diesel sales among Indian state retailers declined in the first half of August both compared to July and versus the same period in 2022 as monsoon rains disrupt industrial activity and road mobility.
- Russia's Omsk refinery will launch a primary oil refining complex in 2023, Gazprom CEO Alexey Miller said via Interfax.
- Global flight schedules for Aug. 15 -21 imply a reduction in global jet fuel demand by 0.2% on the week to 6.71m b/d, according to BNEF.