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Oil Major Debt Is Shrinking Rapidly

1. Bomb Cyclone Disrupts US Refining- US refinery runs averaged 14.9 million b/d according to the most recent EIA data release, indicating that the downstream sector is taking much longer to recover from the December bomb cyclone. – As things stand currently, refinery throughputs are 1.3 million b/d lower than before the cyclone, with utilization rates only increasing to 85.3% of operable capacity. – Perhaps worryingly, at least 15 US refiners are planning to undergo maintenance in February-May 2023, peaking next month at 1.4 million b/d of…For Feedback and Comment, write to us on hello@newswire.ae

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