November 06, 2023 18:42 GMT
US Crude Refiners to Soften Output: Reuters
US Crude oil refiners in Q4 will moderate the high run-rates seen in the summer, amid weak gasoline margins and overhauls, according to Reuters.
- A shift to distillate production and maintenance season has pulled back run rates.
- Marathon Petroleum is aiming for 90-94% range, while Phillips 66 said it would operate in the low 90% range.
- Some refiners, such as Valero, are continuing to aim for higher production to capitalise on strong jet and diesel margins, targeting run-rates of around 93-96.5%.
- Refineries can shift between 5% and 10% of their production to emphasize either distillate or gasoline production, Reuters said.