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Oil refinery news

EIA: US refining capacity decreased during 2025

US operable atmospheric distillation capacity totalled 18.2 million b/cd on 1 January 2026 – down over 250 000 b/cd (about 1%) compared with 1 January 2025 – according to the EIA's latest annual Refinery Capacity Report.

 
 
 
 
 

Wood Mackenzie cuts Brent forecast following US-Iran MoU

Wood Mackenzie has forecasted Brent averaging US$78/bbl in 2027 and potentially easing to US$70/bbl by 4Q27, following a US-Iran MoU that has shifted market sentiment away from a prolonged Strait of Hormuz closure.