U.S. refinery utilization rates fell further in the latest reporting week, with the indicator weakening to -2.4% week-on-week, according to EIA data updated on 28 January 2026. This marks a modest acceleration from the previous reading of -2.0%, signaling a slightly sharper pullback in refining activity compared with the prior week.
The figures reflect a comparison of the change for the current week versus the previous week, while the earlier -2.0% print measured the change in the previous week relative to the week before that. The deepening negative readings suggest refineries have been dialing back run rates for at least two consecutive weeks, a trend that market participants may watch closely for implications on product supply, inventory levels, and downstream fuel markets in the United States.
