Diesel demand surged after Hurricane Harvey knocked offline more than 20 percent of
U.S. refinery capacity at the peak of shutdowns, but demand was strong even before the storm, according to executives and analysts.
In the aftermath of Hurricane Harvey, which knocked off more than 20 percent of
U.S. refinery capacity in the peak of refinery shutdowns, hedge funds are betting on a rise in fuel prices and have boosted their net long positions on U.S. gasoline and diesel to highs not seen for years.
In total, some twenty percent of
U.S. refinery capacity was affected by the storm.
Not exact matches
According to the
U.S. Energy Information Administration, Norway produces 1,602,000 barrels of crude oil a day, and its
refinery capacity is 319,000 bbl / day — about 20 per cent of crude oil production.
According to
U.S. Customs data compiled by Bloomberg, Venezuelan crude represented 43 percent of the
refinery capacity at Chevron's Pascagoula
refinery in July, as well as 62 percent of Valero's St. Charles
refinery capacity.
Three - tenths of the nation's crude oil refining
capacity is located in Texas, with the majority of the
refineries «clustered near ports along the Gulf Coast,» according to the
U.S. Energy Information Administration's website.
It's «sunshine on the shoulder» season as
U.S. refineries slow runs to 87.8 % of
capacity, running just 15.9 million barrels, the lowest level of the year as seasonal maintenance flips into high gear.
The new Line 3 will comprise the newest and most advanced pipeline technology — and provide much needed incremental
capacity to support Canadian crude oil production growth, and
U.S. and Canadian
refinery demand.
Virtually all of America's offshore oil and gas rigs (providing about 17 percent of
U.S. production) are along the Gulf Coast, as is almost half of the country's
refinery capacity; a fact that the country was unhappily reminded of when it was all shut down during Hurricane Harvey in 2017.
Yet with fewer than 150
refineries, the
U.S. has a surprisingly limited
capacity to process the bounty.