U.S. Refiners See Big Jump in Weekly Crude Throughput
Crude throughput at U.S. refineries increased 315,000 barrels per day (BBL/d) during the week ended September 2. Crude runs were up in all five Padd regions with PADD 3 seeing the biggest weekly change with an increase of 165,000 BBL/d. Overall, U.S. crude runs are 145,000 BBL/d short of the all-time high that was reached last July. With PADD 2 already at an all-time high and with expectations of a lower number of refinery turnarounds in PADD 3 next week, the overall U.S. crude run number could top last year's apex.
The crude run number deviates from seasonal expectations. With an increase of 65,000-BBL/d, PADD 2’s production total for the week ended September 2 surpasses the previous high that was reached in July 2015 by 26,000 BBL/d. This number could come off a bit in next week's stats, though, as Valero’s Ardmore refinery is set to come down for seven weeks of planned maintenance turnaround work on the 91,000 BBL/d crude oil distillation unit (CDU) several other units.
While this recap normally focuses on refinery throughput, the massive deviation in crude inventory cannot be ignored. On the heels of an all-time low import number into PADD 3, U.S. crude oil inventories fell an astonishing 14.5 million barrels.
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