The U.S. government reported that last year U.S. refining capacity fell 4.5% from a record of 18.98 million barrels per day a year ago to 18.13 million barrels per day, reflecting the weak demand for automotive fuel during the new crown pneumonia epidemic.
According to the U.S. Energy Information Administration (EIA) data, this is the first annual decline since the production capacity fell 18,530 barrels per day in 2018, and the largest decline since 2012. After the Great Recession, production capacity was reduced by 414,192 barrels per day in 2012.
According to reports, last year, US refiners suffered severe financial losses and closed five factories due to a sharp drop in fuel sales due to the epidemic. According to US government data, average gasoline consumption in the United States fell by 13% last year, and gasoline and diesel prices fell to four-year lows.
It is reported that with the closure of businesses and consumers staying at home, gasoline consumption has fallen by 1.3 million barrels per day. The total production capacity of these five permanently closed refineries is 801,146 barrels per day, resulting in a production capacity level of 18.3 million barrels per day in 2016. The barrel/day is even lower.
