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U.S. diesel and heating oil exports hit record as refining runs near capacity
U.S. refiners shipped 1.9 million barrels per day of diesel and heating oil in the week ending August 7, and jet fuel exports were 443,000 bpd, just under May’s record.
Wars in Iran and Ukraine are disrupting global oil supply chains, and the shift is creating export windfalls for U.S. and Indian refiners, according to Yahoo Finance.
The outlet cited high utilization at refiners in both countries as they substitute for Russian and Gulf oil into Asia, Europe, and Latin America, with profits arriving amid tight inventories.
In the week ending August 7, U.S. refiners exported a record 1.9 million barrels per day of diesel and heating oil. Jet fuel exports were 443,000 bpd, slightly below May’s record of 455,000 bpd, the outlet said.
The story also pointed to demand rebalancing tied to supply limits, including Brazil importing 196,000 bpd of U.S. diesel last month after Russia extended a fuel export ban to January 2027, and global refining throughput falling to about 89 million bpd in July while demand stayed above 100 million bpd. It added that both U.S. and Asian gasoline inventories are running below their five-year average, and China increased fuel exports after relaxing export limits in July.
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