2024 US crude refining well above 2023 levels
Thus far in 2024, US refiner input average is +0.4 mbd (+3%) compared to 2023 and +0.05 mbd (0.0%) compared to 2022. This is the highest crude refiner input average for the US market since 2020. YTD refiner input is still -0.7 mbd (-4%) compared to the 2020 level.
Since experiencing a strong decline in late January, US crude refiner input has rebounded and has been above 2023 levels since the start of March. 2024 is now following a traditional refining trend which has a peak level in late August.