Turnaround season is at its peak, and demand is at its nadir, in what passes for balance these days in U.S. oil markets.rnInput to refineries fell by another 268,000 b/d last week to 14.814 million b/d.rnOn the demand side, there has been a significant U.S. slowdown. Implied demand for gasoline fell to 8.94 millon b/d, the lowest weekly figure since Jan. 27, 2006. Each of the last two weeks have seen demand of less than 9 million b/d after all of 2007 failed to deliver such a subpar performance. The four-week running average for gasoline demand is misleading - it shows a 1.4% rise versus the same period last year. The two-week average of 8.95 million b/d is more representative, suppliers and marketers tell OE.
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