Oil and prices
United States
U.S. refineries exceeded 95% utilization from May through September
Master Services Technical TeamSelection and context
Published by Master Services
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Summary
The EIA reported on October 22 that U.S. refineries used more than 95% of their capacity on average from May through September 2026, the highest level for those months since 1998. The agency attributes the stronger operating rates mainly to tight global distillate supplies and international demand for U.S. exports. Utilization fell from summer levels during the first three weeks of October but remained above the 2021–2025 seasonal average.
Why it may matter to operators
High utilization does not necessarily mean record output. According to the EIA, U.S. refining capacity has fallen 4% since 2019, so output was the highest since 2019 even as utilization reached its highest level since 1998. Tracking fuel supply therefore calls for reading capacity, output and distillate demand together. These figures describe observed U.S. operations; they are neither a forecast nor a determination of retail fuel prices in Panama.
Editorial note
Summary and context by Master Services. Consult the original source and confirm local applicability for each project.