Petroleum Refineries May Find New Markets Amid EV, Energy Transition Trends

Petroleum Refineries May Find New Markets Amid EV, Energy Transition Trends

Petroleum Refineries May Find New Markets Amid EV, Energy Transition Trends

July 17, 2023--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--While in the early stages of the energy transition, data from Industrial Info show a divergence emerging in the downstream energy sector as the market adjusts to the rollout of more electric vehicles.

U.S. fuel demand and refinery activity remains robust. The U.S. Energy Information Administration, the statistical arm of the Energy Department, reported that refineries were operating at 92.2% of their peak capacity during the seven-day period ending June 23, churning out an average of 10.1 million barrels of gasoline per day.

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