EU-16 refinery runs at three-year high in Jan: Euroilstock

Quantum Commodity Intelligence - Crude runs at European refineries last month reached the highest since the Covid-19 pandemic, as output of nearly all products increased in the run-up to sanctions on Russian exports.

Crude runs in the EU-15 plus Norway reached 9.87mn bpd January, Euroilstock data showed Tuesday, up 0.3% from the previous month and nearly 8% more than a year earlier.

European suppliers have ramped up output ahead of EU sanctions on Russian oil products this month, which was the region's biggest single supplier of distillates, fuel oil and naphtha before the war.

EU-16 distillate output was nearly 6% higher than a year ago at 5.15 million bpd in January, a six-month high, up 0.4% from December.

Gasoline output also reached a six-month high 2.4 million bpd, up 3% on the year and 4.5% higher than December.

And fuel oil output hit a three-year high 1.03 million bpd, up nearly 8% from December and 2% higher than a year ago.

Naphtha output fell 2% over the month to 891,000 bpd, but was still 6.6% higher than a year earlier.