BAKU, Azerbaijan, March 18. OECD crude runs rose by 140,000 barrels per day (kb/d) year-on-year in 2024, reaching 36.1 million barrels per day (mb/d), according to the figures provided by the International Energy Agency (IEA), Trend reports.
The increase was primarily driven by a 410 kb/d gain in the Americas, with the US leading the way with a 260 kb/d rise to a five-year high of 16.2 mb/d, the report says. Mexican throughputs also rose, reaching a nine-year high of 970 kb/d, contributing to the regional growth. Canadian processing rates saw a modest 20 kb/d increase to 1.8 mb/d, the highest in five years.
In contrast, European crude runs fell by 120 kb/d to 11.3 mb/d, despite a 130 kb/d rebound in German processing. The decline was due to lower runs in the Netherlands, Italy, and Finland. In Asia-Oceania, refinery runs were down 150 kb/d, with Japanese refining rates dropping by 190 kb/d to 2.4 mb/d, continuing a nearly 20-year downward trend, the agency explains.
Preliminary data for January 2025 shows a 1.2 mb/d month-on-month decline in OECD crude runs, mainly due to colder weather and maintenance in the US. European and Asia-Oceania throughputs also saw minor declines. December 2024 throughputs were revised up to 37.1 mb/d, the highest in 12 months, but still showed a 50 kb/d year-on-year decline.
