USL - Oil - Lower Refinery Throughput Today Just Means Higher Throughput Tomorrow
Welcome to the lower today just means higher tomorrow edition of Oil Markets Daily!
Refinery throughput has been disappointing. So disappointing that readers are starting to wonder if US refinery throughput will ever increase. While logically, that's an extremely laughable thought, one can't blame them for the skepticism. Indeed, refinery throughput this year was supposed to be materially higher y-o-y. US refineries underwent much higher maintenance in Q1 this year versus last year, so planned maintenance for April and May were supposed to be 344k b/d and 425k b/d lower. Instead, US refinery throughput was