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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
REFINING
US refinery capacity has been revised higher compared with the forecasts at the start of this year according to the latest EIA STEO after several announcements from refiners.
- US refinery capacity will average 18.3mb/d in 2024, up from 18.0mb/d in the January EIA STEO. The STEO forecast does not include temporary reductions in capacity because of maintenance or unplanned outages.
- LyondellBasell announced it would delay closing its 263,776 b/d Houston refinery from the previous schedule for the end of 2023 until early 2025.
- Capacity is also boosted by the earlier on-stream date of ExxonMobil’s Beaumont expansion, as well as the estimated impact of smaller capacity increases at Marathon Galveston Bay this year and Chevron Pasadena next year.
Source: EIA STEO
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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