Commodities Buzz: US Crude Oil Refinery Capacity Hits New Record by bullscommodity.com

From January 1, 2018, to January 1, 2019, US operable atmospheric crude oil distillation capacity increased 1.1%, reaching a record high of 18.8 million barrels per calendar day (b/cd), according to a latest update from the US Energy Information Administration (EIA). The previous peak for the first day of the year came in 1981, when operable capacity reached 18.6 million b/cd, just slightly higher than on January 1, 2018.

US operable crude oil distillation unit (CDU) capacity has increased slightly in six of the past seven years. Operable capacity includes both idle and operating capacity. EIA measures refinery capacity in two ways: barrels per calendar day and barrels per stream day (b/sd). Calendar-day capacity is the operator’s estimate of the input that a distillation unit can process in a 24-hour period under usual operating conditions, recognizing the effects of both planned and unplanned maintenance.

Stream-day capacity, on the other hand, reflects the maximum number of barrels of input that a distillation facility can process within a 24-hour period when running at full capacity under optimal crude oil and product slate conditions with no allowance for downtime. Stream-day capacity is typically about 6% higher than calendar-day capacity. The number of operable US refineries remained at 135 from January 1, 2018, to January 1, 2019, because 2 refineries combined operations and another split its reporting between 2 plants.

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