Gulf Oil and Gas accountACCOUNT

US Product Markets and Refinery Operations – September 2012

Source: OPEC 9/24/2012, Location: North America

US gasoline demand increased by around 370 tb/d from the previous month to stand at around 9.1 mb/d in August. This level represented a rise of 240 tb/d from the same month a year earlier. US gasoline demand picked up in August, with the summer driving season recovering to over 9 mb/d; however, domestic demand on a y-o-y basis remained down by more than 2%. Higher domestic demand along with tight product supply generated by the earlier closure of some East Coast refineries amid falling inventories and stronger export opportunities allowed gasoline cracks to show a sharp increase during the month.

Solid demand from Latin America kept sentiment firm, with Mexico leading motor fuel requirement due to a shutdown after a fire in the Madero refinery at mid-August, while Venezuelan and Brazilian demand was offering further support. The supply side was also lending support, as the refineries shifted to winter grade specifications and the tight situation was boosted by the required shutdown of some refineries in Louisiana due to Hurricane Isaac and the disruption of Venezuela’s refinery located in Amuay bay. The gasoline crack averaged $49/b in August, a sharp gain of $4 from the previous month’s average.

Middle distillate demand stood at around 3.5 mb/d in August, similar from the previous month, but decreasing by 400 tb/d from the same month a year ago.

Middle distillates posted an improvement from the month before, mostly due to favourable arbitrage opportunities to Europe and Latin America and the tight environment after the shutdown of some refineries in the region. This supply-side support, as well as falling inventories could offset the weak domestic demand, and along with the higher requirements from South America, specifically Chile and Ecuador, could allow the gasoil cracks to keep rising. The gasoil crack on the US Gulf Coast gained almost $4 to stand at around $33/b in August. At the bottom of the barrel, fuel oil cracks showed a slight improvement, on the back of buying interest on 1% sulphur volumes. Moreover, the market was quiet until the end of the month when expectations of additional US volumes heading to Singapore in the coming period to make up for potential shortfalls from South America revived the market. The fuel oil crack averaged $11/b in August, a gain of $1 from the previous month.

Oil Treating & Refining News in United States >>

Iran >>  2/8/2019 - The new refineries of South Pars gas field will be officially inaugurated by the late February, Iran’s Oil Minister Bijan Namdar Zanganeh announced in...
Saudi Arabia >>  2/4/2019 - KBR, Inc. (KBR) has been awarded a contract by SATORP (a joint venture between Saudi Aramco and Total) to debottleneck Train 2 of its existing 440,000...

United States >>  1/30/2019 - Chevron U.S.A. Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation (CVX), announced that it has signed a Share Purchase Agreement with Petro...
Iran >>  1/28/2019 - The CEO of Isfahan Oil Refinery said the plant would launch its third distillation unit on the occasion of the 40th anniversary of the Islamic Revolut...

United Arab Emirates >>  1/27/2019 - The Abu Dhabi National Oil Company (ADNOC) signed two new strategic equity partnerships with Eni and OMV covering both ADNOC Refining and a new tradin...
Egypt >>  1/21/2019 - Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, t...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.