BAKU, Azerbaijan, October 15. OECD crude throughput reached a 19-month high of 37.3 million barrels per day (mb/d) in August, driven by stronger runs in Japan, the US, and Italy, the International Energy Agency (IEA) said, Trend reports.
The third-quarter average for OECD Europe also hit its highest level since 3Q22, despite the closure of 540,000 b/d of capacity over the period.
US utilisation remained near 95% through August, though planned maintenance in September has temporarily reduced runs. OECD crude processing is expected to drop from 36.1 mb/d in September to 34.8 mb/d in October, before recovering to 37.2 mb/d in December. The permanent closure of the 140,000 b/d Phillips 66 Los Angeles refinery will also weigh on fourth-quarter activity.
The IEA noted that OECD runs are now expected to decline by only 20,000 b/d in 2025, far below the 360,000 b/d decline forecast earlier this year, supported by strong US throughput. In 2026, throughputs are projected to fall by 500,000 b/d as the cumulative impact of capacity closures becomes more evident.
Regionally, OECD Americas runs rose to 20 mb/d in August, led by the US at 17.1 mb/d, while Mexico and Canada maintained high utilisation rates. OECD Europe saw a modest month-on-month decline to 11.7 mb/d, largely due to maintenance and capacity closures in Germany, the Netherlands, and Italy. However, the IEA expects a relatively light European maintenance season and robust margins to support higher runs in the coming months.
