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petroleum products storage facilities examples US Crude Oil Refinery Demand Influenced Crude Oil Costs

The EIA (U.S. Energy Info Administration) launched its “This Week in Petroleum” report on February 10, 2016. It reported that the US crude oil refinery demand fell by 105,000 bpd (barrels per day) to 15.5 MMbpd (million barrels per day) for the week ending February 5, 2016. Final week, the US crude oil refinery demand fell by 24,000 bpd for the week ending January 29, 2016. US petroleum products storage facilities examples refineries operated at 86.1% operable capacity for the week ending February 5, 2016—compared to 86.6% for the week ending January 29, 2016.

US refinery demand by region
reaction kettleThe US refinery demand rose to 8 MMbpd within the Gulf Coast region for the week ending February 5, 2016. In distinction, the US crude oil refinery demand fell in the Midwest and West Coast regions for the same Ceramic moment saddle period. These three areas contribute to a lot of the US crude oil refinery demand.

US crude oil refinery demand in 2015
At present, the US crude oil refinery demand is 0.6% lower than the refinery demand of 15.Fifty six MMbpd last 12 months. The fall in refinery demand is due to record gasoline and distillate stocks. The weak refinery demand will lead to a rise in crude oil stocks. It will petroleum products storage facilities examples have a negative influence on crude oil costs. The fall in crude oil costs impacts oil producers like Devon Vitality (DVN), Energen (EGN), Laredo Petroleum (LPI), and Pioneer Pure Resources (PXD). The fall in refinery demand also suggests weak retail demand. It impacts refiners similar to Valero Vitality (VLO), HollyFrontier (HFC), Marathon Oil (MPC), and Phillips sixty six (PSX).