- Aug 16, 2019 1:37 pm GMT
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U.S. gross inputs to refineries, also known as refinery runs, have increased each year since 2009, most recently reaching a record high of 17.3 million barrels per day (b/d) in 2018. However, based on its monthly refinery run data through May and forecast for the remainder of 2019, the U.S. Energy Information Administration (EIA) expects refinery runs to decline and average 17.0 million b/d in 2019.
This is somewhat surprising given the overall increase to record levels that U.S. oil has seen in recent years. What's your take on the situation? Is this a sign of changes in the way U.S. oil producers are handling their record production?