The Energy Information Administration (EIA) released its latest report on June 12, 2024, revealing a decline in U.S. refinery utilization rates. The current week-over-week indicator has dropped to -0.4%, a notable decrease from the previous week's 1.1% increase.
This indicator measures the weekly change in refinery activity, comparing the current week's output to that of the previous week. The previous week's 1.1% uptick had marked a period of heightened production levels, but the recent data showcases a shift towards reduced utilization.
Industry analysts are closely monitoring these fluctuations, as refinery utilization rates are pivotal indicators of both the supply chain's health and market demand dynamics. The latest decrement could signal potential challenges or shifts within the industry's operational landscape.
