11.01.22 Why Do We Only Have 25 Days of Diesel Fuel Left? Tom and Shane Analyze

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The U.S. has just 25 days of diesel supply in reserve, with some regional markets very tight. What is causing the diesel fuel shortage?

The shortage is caused in large part by routine refinery maintenance this time of year and refineries competing with households using more energy to heat their homes.

Most of the diesel fuel consumed in the United States is produced in U.S. oil refineries. The U.S. diesel shortage is worsening as distillate inventories crash to multi-year lows.

U.S. refiners permanently shut down some refinery capacity at the start of the pandemic when fuel demand plunged. A diesel shortage and high diesel prices don’t bode well for the global economy, which could tip into recession at some point next year. U.S. oil/petroleum refineries produce most of the diesel fuel the United States consumes.

Does the U.S import diesel fuel?

In 2021, the United States imported about 8.47 million barrels per day (b/d) of petroleum from 73 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels.

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