U.S. refiners processed about the same amount of crude oil during the past four weeks as they did this time last year despite a gasoline glut, Reuters reports. East Coast refiners have cut throughput by 6%, but their counterparts in the Midwest have increased processing by about 25,000 barrels per day. Meanwhile, Gulf Coast refiners’ throughput is essentially flat year-over-year.
Reuters notes that refiners are shifting their fuel production balance from gasoline to diesel instead of cutting throughput. Analysts expect strong diesel demand brought on by below average temperatures this winter.
MORE REFINING NEWS: Tesoro, Par Hawaii to spend $425 million on emissions control at six refineries