EIA Refinery Crude Runs
Published:
A weekly EIA measure of the volume of crude oil processed by U.S. refineries and its change from the prior week.
Full explanation
EIA Refinery Crude Runs measures how much crude oil U.S. refineries process, reported as average daily inputs during the latest week. The WoW version shows the change from the prior week's refinery crude runs. It is published within the EIA's Weekly Petroleum Status Report and is expressed in thousands of barrels per day. The measure helps show whether refiners are increasing or reducing their crude-processing activity.
Why traders watch it
Refinery activity is a timely indicator of demand for crude oil and of potential supply of refined fuels such as gasoline and distillate. It can affect price reactions across crude and fuel markets, with possible knock-on effects for inflation expectations, energy-linked currencies and rates markets.
Market interpretation
- Crude oil
- Changes in refinery inputs can alter the near-term demand picture for crude and help contextualise inventory movements.
- Refined fuel markets
- Higher or lower processing activity may affect expectations for gasoline and distillate production and availability.
- FX and rates
- Energy-price moves associated with the report can feed into inflation expectations and sentiment around energy-linked economies.
Stronger vs weaker outcomes
A larger-than-expected weekly increase may indicate stronger refinery demand for crude or a return from maintenance, while a larger decline may indicate reduced processing activity. The market meaning depends on refinery utilisation, crude and product inventories, seasonal patterns, outages and the rest of the weekly petroleum data.
Higher refinery crude runs than expected may point to stronger crude processing or a rebound in refinery operations, potentially affecting the interpretation of crude and fuel inventory changes.
Lower refinery crude runs than expected may point to reduced processing, maintenance or operational disruptions, potentially affecting the interpretation of crude and fuel inventory changes.
Compare the weekly change in refinery crude runs with refinery utilisation, crude inventories and refined-fuel production.
Typical volatility
Moderate. Weekly refinery runs can move for seasonal maintenance, weather disruptions, operational outages and changes in refinery capacity. The series should be read alongside refinery utilisation, crude inventories, gasoline and distillate production, and revisions or benchmarking notes in the EIA release.
Trading considerations
- Check whether the reported movement reflects seasonal refinery maintenance, an outage or a sustained operating change.
- Read refinery crude runs together with refinery utilisation and gasoline and distillate production.
- Compare the figure with crude oil and refined-product inventory changes in the same EIA report.
- Allow for revisions, benchmarking and differences between a weekly flow measure and longer-term demand trends.
Educational guidance only — never a trading signal or recommendation.
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