US refining capacity falls to lowest mark in 8 years

“The nation’s capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government’s annual refinery capacity report released June 21.

Chevron CEO Mike Wirth wrote June 21 to President Joe Biden, noting that Chevron is doing what it can to produce more oil and fuels, but arguing that practical efforts are limited and that unrealistic political rhetoric should be avoided. He said the Biden administration often has “sought to criticize and, at times, vilify our industry.” — SPG Global