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Strong Demand Keeps U.S. Refiners Operating at Near Capacity

Summary by IER
U.S. oil refiners are running plants close to 95% utilization and deferring some maintenance to take advantage of strong domestic and international demand and high margins. Refinery shutdowns averaged 470,000 barrels per day from January to May, down from 700,000 a year earlier and 900,000 in 2024, with little maintenance scheduled for the second half. U.S. refiners usually shut down for maintenance in early spring to get ready for the summer dr…

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IER broke the news on Thursday, June 4, 2026.
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