The U.S. Energy Information Administration (EIA) reported that refinery crude runs have remained stable at 0.307 million barrels per day (MBD) for the second consecutive week. The data updated on May 15, 2024, indicates no change in refinery activity week-over-week.
This consistency suggests a plateau in the amount of crude oil being processed by U.S. refineries. Last week saw the same metric, keeping the runs similar to the previous week's output. Refinery crude runs are a pivotal marker in understanding supply levels and overall market dynamics, reflecting the volume of crude oil being converted into usable products like gasoline, diesel, and jet fuel.
Market analysts will be closely monitoring subsequent weeks' data to determine if this stabilization signifies a longer-term trend or merely a temporary equilibrium in refinery operations. The current energy market landscape, driven by various geopolitical and economic factors, leaves open questions on future shifts in refinery output.
