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US Refiners Increase Diesel Yields Amid Winter Demand Boost

OIL PRODUCTS

US oil refiners are looking to maximize diesel production at the expense of gasoline according to Bloomberg amid a demand boost for diesel over the winter.

  • Higher diesel yields are encouraged with distillates margins more than double those for gasoline due to good demand with low inventories according to Valero Energy. Valero see diesel demand 7% higher than a year ago.
  • A Gulf Coast refiner processing more than 300kbpd of crude has adjusted operations to increase diesel output by as much as 10-15% according to a Bloomberg source.
  • Distillates output is typically boosted at this time of year and large refineries with multiple units are able to adjust their product mix the most in response to market demand, said John Auers Auers at RBN Energy.
  • Total yield from a refinery could swing 2% to 3% according to Andy Lipow at Lipow Oil Associates by adjusting downstream units or the temperature of the oil in crude units.
    • US 321 crack down -0.2$/bbl at 26.41$/bbl
    • US gasoline crack down -0.1$/bbl at 19.51$/bbl
    • US ULSD crack down -0.5$/bbl at 40.2$/bbl
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