Oil refineries across the country continue to close down because cratering demand for their products during the COVID-19 pandemic. In Texas, Royal Dutch Shell is the latest company to announce it will shut down parts of its operations at a Houston-area refinery and at its Deer Park facilities.
Energy insider Matt Smith is director of commodity research at ClipperData. He says total U.S. refinery utilization has begun to rebound from the record lows back in April. However, refineries are still considerably lagging behind the typical rates of production typically seen during “peak summer driving season.”
What you’ll hear in this segment:
– How refinery utilization rates compare from past years, to now
– What refinery “capacity” and “utilization” really means
– How COVID-19 is impacting refinery workers
Web story by Sarah Gabrielli.