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OIL PRODUCTS: Oil Products End of Day: Maintenance Adds Support

OIL PRODUCTS
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US refinery snags and maintenance are providing support for diesel and gasoline cracks that overall remain weak against slower demand.

  • US gasoline crack up 0.4$/bbl at 12.9$/bbl
  • US ULSD crack up 0.1$/bbl at 22.5$/bbl
  • GasBuddy models U.S. gasoline demand at 8.61 million barrels per day last week, edging 0.7% lower w/w.
  • Refiners and fuel suppliers in China are planning to export 2.71m tons of oil products in October, +4.6% m/m: OilChem.
  • Some regions in Germany are struggling with reduced refinery output, according to Argus, as diesel imports into northern Germany almost doubled m/m in September with slightly higher domestic demand.
  • India’s eight key industries’ production fell by 1.8% on the year in August, compared with a growth of 6.1% in July, data from the Central Statistics Office showed.
  • Exports of clean oil-product exports from India jumped to their highest since March 2022 as refinery shutdowns in Europe led to a spike in demand from overseas buyers.
  • Saudi Aramco has changed crude oil feedstock supplies to its 400,000 bpd Jazan refinery on the southwest coast to enable tanker supplies via the more secure route from its Red Sea terminals, avoiding the Bab al-Mandeb chokepoint.
  • Russia’s crude processing fell to the lowest since June to an average of 5.28mb/d during Sept. 1-25 amid seasonal maintenance, sources told Bloomberg.
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US refinery snags and maintenance are providing support for diesel and gasoline cracks that overall remain weak against slower demand.

  • US gasoline crack up 0.4$/bbl at 12.9$/bbl
  • US ULSD crack up 0.1$/bbl at 22.5$/bbl
  • GasBuddy models U.S. gasoline demand at 8.61 million barrels per day last week, edging 0.7% lower w/w.
  • Refiners and fuel suppliers in China are planning to export 2.71m tons of oil products in October, +4.6% m/m: OilChem.
  • Some regions in Germany are struggling with reduced refinery output, according to Argus, as diesel imports into northern Germany almost doubled m/m in September with slightly higher domestic demand.
  • India’s eight key industries’ production fell by 1.8% on the year in August, compared with a growth of 6.1% in July, data from the Central Statistics Office showed.
  • Exports of clean oil-product exports from India jumped to their highest since March 2022 as refinery shutdowns in Europe led to a spike in demand from overseas buyers.
  • Saudi Aramco has changed crude oil feedstock supplies to its 400,000 bpd Jazan refinery on the southwest coast to enable tanker supplies via the more secure route from its Red Sea terminals, avoiding the Bab al-Mandeb chokepoint.
  • Russia’s crude processing fell to the lowest since June to an average of 5.28mb/d during Sept. 1-25 amid seasonal maintenance, sources told Bloomberg.