Refiner’s Demand for Crude Oil
July 24, 2020
Crude oil is the Oil Refiner’s raw material that is processed in gasoline, diesel fuel, jet fuel, etc. As the need for the refined products declines the amount of crude oil needed correspondingly declines. By mid-May gasoline and diesel fuel demand had bottomed out and demand was increasing, so crude runs increased. Now, however, with the rising Covid-19 cases and hospitalizations, refined product demand is down. Crude runs, at 14.3 million barrels per day, show the change from increasing runs to now decreasing runs. Monitoring crude runs acts as an index of the state of the US economy.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > DOE > Crude Oil > Refiner Inputs and Utilization > Crude Oil Inputs > Total US.
US Total Crude Runs (Year-over-Year)
Latest Data as of Friday, July 17, 2020 14.3 million barrels per day
US Total Crude Runs
Latest Data as of Friday, July 17, 2020 14.3 million barrels per day
If you would like access to the great insights and analysis provided by the Fundamental Analytics platform, sign up for a 15-day free trial and demonstration!
If you have any questions, please contact our Managing Director, Joel Fingerman, at [email protected]
We also invite you to read our other articles and follow us on social media!
Best Regards,
The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.