US refiners may be getting ahead of demand

In the week ended June 4, refinery runs jumped to the highest since February 2020. Capacity utilisation climbed four weeks in a row, reaching 91.3%, the most since January 2020.

NEW YORK: US refiners may be jumping the gun in ramping up production of gasoline for the summer driving season.

After weathering more than a year of pandemic-related demand destruction, a massive Gulf Coast freeze, the temporary shutdown of the Colonial pipeline and weeks of spring rains, cash-strapped refiners may feel the worst is behind them and summer days will bring increasing demand.