Refineries struggle to meet demand

U.S. stocks of gasoline and diesel continue to fall, despite record refinery runs. It’s a sign of major demand at home and abroad. U.S. refineries processed a record 16.3 million barrels per day (bpd) of crude through Nov. 3, according to the Energy Information Administration, despite Hurricane Harvey hitting Gulf Coast refineries. Refineries are struggling to meet demand in the U.S. and Latin America. The boost to gasoline consumption is being driven by moderately cheap fuel, strong economic growth, job creation, rising traffic volumes and the purchase of larger carriers. Stocks of both were being pressured even before Hurricane Harvey. Stocks of both, from an operationally perspective, are becoming uncomfortably low once inventories are adjusted for rising demand. (Source: Hellenic Shipping News 11/11/17)