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REFINING: Lightest US Autumn Refinery Maintenance Since 2021

REFINING
BulletEnergy BulletsCommodities

US refiners are set for the lightest autumn refinery maintenance season in three years, with 529kbpd of capacity offline, according to IIR cited by Bloomberg, and about half the offline capacity from last year.

  • The offline daily crude-processing capacity is the lowest for the period since 2021 following heavy maintenance seasons in recent years.
  • Some refiners may be postponing turnarounds until next year, potentially leading to a heavier season in 2025.
  • The light turnaround season may help to support crude demand but adds pressure to refiner’s profit margins. Cracks earlier this month fell to the lowest of the year at the end of muted demand from the driving season and after lackluster manufacturing activity in the US. 

 

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US refiners are set for the lightest autumn refinery maintenance season in three years, with 529kbpd of capacity offline, according to IIR cited by Bloomberg, and about half the offline capacity from last year.

  • The offline daily crude-processing capacity is the lowest for the period since 2021 following heavy maintenance seasons in recent years.
  • Some refiners may be postponing turnarounds until next year, potentially leading to a heavier season in 2025.
  • The light turnaround season may help to support crude demand but adds pressure to refiner’s profit margins. Cracks earlier this month fell to the lowest of the year at the end of muted demand from the driving season and after lackluster manufacturing activity in the US. 

 

Keep reading...Show less