July 29, 2022 08:25 GMT
US refiner comments on US fuel demand, given EIA data and market comments suggesting higher prices have led to demand destruction:
- "Through our wholesale channel, there's really no indication of any demand destruction ... in June, we actually set sales records," Gary Simmons, Valero Energy Corp executive vice president.
- "Our seven-day averages now are back to kind of that June level, with gasoline at pre-pandemic levels and diesel continuing to trend above pre-pandemic levels," Gary Simmons.
- "We’re at the same levels [demand] we’ve been for the past 90 days," said PBF Chief Executive Tom Nimbley.
- "Inevitably inventories will need to be replenished from these extraordinary low levels ... this will require refineries to continue running at high levels of utilization," Tom Nimbley.