US Refining Capacity Declines Amid Uncertain Fuel Demand Outlook

Bloomberg.com · last updated June 20, 2025 – 4:16 PM

US refiners’ operating capacity edged lower in 2024 as an uncertain outlook for gasoline and diesel prompted fuelmakers to pull back after a period of expansion.

America’s refining fleet — the world’s largest — contracted by 43,000 barrels a day in 2024, shrinking to 18.3 million barrels a day of operating capacity, according to an Energy Information Administration report that gives a snapshot of the industry as of Jan. 1 each year.

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