Refinery utilization
Updated
What it is
Refinery utilization is the percentage of U.S. refining capacity actually being used to process crude oil in a given week, published by the EIA in its Weekly Petroleum Status Report. It is calculated as gross inputs to atmospheric crude distillation units divided by the latest reported monthly "operable capacity" (capacity currently running, idle-but-quickly-restartable, or under short-term repair). High utilization signals refiners are running hard to meet product demand; low utilization can reflect planned maintenance, weak margins, or unplanned outages.
Why it matters lately
U.S. refinery utilization swung widely in 2026: about 89.6% in the week ending April 10, rising to 94.5% by May 22, 96.6-97.2% through June-August, and a 2026 high of 97.4% in the week ending August 21, 2026, as refiners ran hard despite Iran-war disruptions and postponed planned maintenance into 2027 to capture high fuel margins. These rates sit near the top of the historical range, reflecting both strong distillate demand and reduced total industry capacity after 2025 refinery closures.
Asymmetric Analytics view
Inference (AA): It is the near-real-time "are refiners actually running" check AA pairs with refining capacity and refined-product stress to assess energy-system slack.