From Fuelfix:
”Even though crude imports jumped higher by over 1.1 million barrels per day last week, a climb into unchartered territory by refinery runs meant that crude inventories were drawn down by 3.6mn bbls. Refinery runs jumped to 17.3mn bpd, the highest level on record, as cheap and available crude – as opposed to strong demand – is driving on refining activity. Refinery runs are now a surreal 1.44mn bpd – or 9 percent – higher than year-ago levels:
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