• 3 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 6 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 minutes OPEC is no longer an Apex Predator
  • 12 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 2 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 2 hours Australia Sky News Election Summary: "This was the Climate Change Cult Election, and the Climate Change Cult Lost"
  • 6 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 6 hours California Threatens Ban on ICE Cars
  • 16 mins Australian Voters Reject 'Climate Change' Politicians
  • 6 hours IMO2020 To scrub or not to scrub
  • 10 hours Global Warming Making The Rich Richer
  • 6 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 7 days How can Trump 'own' a trade war?
  • 7 days China, U.S. Hold 'Productive' Trade Talks In Beijing
  • 2 hours Some Good News on Climate Change Maybe
  • 6 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 7 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
Alt Text

Iraq's Return To Oil's Top Table

Despite numerous operational and security…

Alt Text

Oil Slips Despite Bullish OPEC Report

Oil prices fell on Thursday…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Gulf Coast Refineries Process Record Volume Of Crude

Gulf Coast refineries processed a record-high amount of crude oil last week, at 9.649 million barrels daily, the Energy Information Administration said in its weekly petroleum status report. The national total was also very high, at 17.981 million bpd.

This summer has been very productive for U.S. refineries. The average capacity utilization rate at Gulf Coast refineries also hit a record, at 99.7 percent last week. What’s more, the four-week average crude oil throughput for all U.S. refineries passed the 18-million-bpd mark for the first time in history.

The data reflects strengthening demand for oil products both domestically and internationally, with an emphasis on gasoline and distillate, the EIA said, with domestic gasoline demand hitting an all-time high in early June and remaining robust through the next two months.

Exports of gasoline are also on the rise, with the figure for the second week of August at a daily average of 935,000 bpd, versus 670,000 bpd a year ago.

This year is seen as the second in a row when refineries will book record-high activity, which reflects the strengthening of the U.S. economy, with this driving season making a good case in point. There’s been a lot of driving this summer season, and that’s despite rising prices at the pump. These gained 31 percent between May 2017 and May 2018, but driving increased nevertheless, and it increased further during the summer months.

The increase in driving, according to a CNN report, was directly linked with the increase in refining activity in the past few months, which kept the supply of fuels robust and put a lid on prices at the pump. And refineries are refining more because their profit margin on gasoline, the most popular fuel, has improved substantially over the past 12 months. Margins on diesel have also risen, adding more incentive for refiners to go at full throttle and break records.

By Irina Slav from Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Thomas on August 16 2018 said:
    Funny, I thought the Refining Industry was supposed to be hurting, isn’t that why Scott Pruitt lavished them with so many waivers over the last two years to avoid blending ethanol? (49 at last count, but still “considering more”.) Stick it to the Farmers with 2.25 Billion Gallons of Ethanol Demand Distruction. Who cares, their just Farmers Right?

    Shows what a Total SHAM the whole EPA Small Refiner Waiver Program really is, and those Politicians and Organizations that support it. Oil Rules while everybody else gets to Drool, thanks to our Oil Controlled EPA.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News