US Refining Capacity Declines Amid Uncertain Fuel Demand Outlook.

The article focuses on the decline in operating capacity of U.S. refiners in 2024, attributed to an uncertain outlook for gasoline and diesel. According to a report from the Energy Information Administration, the U.S. refining fleet's capacity decreased by 43,000 barrels a day, reaching 18.3 million barrels a day. This contraction follows a period of expansion after the pandemic, during which major companies like ExxonMobil, Valero Energy, and Marathon Petroleum increased capacity. However, recent closures of refineries, including LyondellBasell's Houston facility and Phillips 66's Los Angeles plant, may push capacity back to levels not seen since the pandemic, while larger Gulf Coast refineries, such as Motiva's in Texas, continue to expand. [Extracted from the article]