4 January 2010
Rough times for US oil refiners
If the US oil refining industry is a roller-coaster ride, it is on a dizzying downward plunge as demand drops and prices rise, writes Anne Feltus
NOT MUCH is going right for the US' oil refiners. Two years after refinery margins reached their peak, refiners are facing a perfect storm of problems that have turned profits into losses. A weak economy has reduced demand for gasoline, diesel and other refined fuels; the Energy Information Administration (EIA) predicts consumption of petroleum products will fall by 3.7% this year. Growth of global refining capacity has created a market glut. The price of crude oil, refiners' principal feedstock, has climbed steadily since March. Meanwhile, refined products inventories have reached record levels. And that is not all. In recent years, refiners have invested heavily in equipment for proces
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
