The U.S. crude oil refining industry: Recent developments, upcoming challenges and prospects for exports
Abstrak
In 2018 the U.S. petroleum refining industry is the largest and most advanced in the world. Continuous consolidations and investments in complex refinery additions have allowed this industry to remain competitive and the shale oil revolution has contributed to the U.S. becoming a net exporter of refined petroleum products in 2008. In light of current and forecasted changes in refined petroleum product demand and worldwide refining capacity additions, the U.S. petroleum refining industry faces new challenges. This paper provides an in-depth study of this industry, presenting past trends, its current state and the effects that a changing U.S. crude oil production has on refiners. Furthermore, a scenario analysis is used to forecast future production levels and the volumes of major refined products available for exports over the years 2017–2032. The competitiveness of current U.S. gasoline and diesel exports is evaluated and forecasted gasoline and diesel demand in current export markets is compared to available export volumes. Major challenges facing refiners by changing market conditions and new regulatory rules are discussed. Finally, a set of recommendations is provided.
Topik & Kata Kunci
Penulis (1)
Isabella Ruble
Akses Cepat
- Tahun Terbit
- 2019
- Bahasa
- en
- Total Sitasi
- 34×
- Sumber Database
- Semantic Scholar
- DOI
- 10.1016/j.jeca.2019.e00132
- Akses
- Open Access ✓