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American Refineries on Track to Beat Oil Processing Record this Year

American oil refineries are running full tilt to meet insatiable demand for gasoline and diesel at home and abroad.
Refineries processed a record-high 18 million barrels of crude per day in early July, according to government statistics.

Full-year refinery activity is expected to hit a record in 2018 for the second year in a row.
The flurry of refinery activity reflects a big increase in driving this summer as the US and global economy strengthens.

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“Gasoline demand is strong because of full employment. The economy is chugging along pretty well,” said Matt Smith, director of commodity research at ClipperData.

The amount of motor gasoline delivered in the United States is expected to match the record-high of the last two summers, according to the US Energy Information Administration. A near-record 9.7 million barrels per day of motor gasoline was delivered in early August.

via CNN

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