CEC: Calif. Mandated RFG Production Sinks to near 4yrs Low
4/10 4:42 PM
CEC: Calif. Mandated RFG Production Sinks to near 4yrs Low OAKHURST, N.J. (DTN) --- California refiners again reduced production of the state mandated reformulated gasoline, with output falling 14% in the week ended April 5 to a near four-year low while inventory was drawn down for a fourth consecutive week to an 18-week low, according to the latest data from the California Energy Commission. Statewide CARB RFG production slid 748,000 bbl last week to 4.568 million bbl, the lowest output rate since the final week of May 2020. CEC reports CARB RFG output at southern refineries held to the downside, off 50,000 bbl during the week profiled while sinking nearly 700,000 bbl at northern refineries. Overall CARB RFG inventory eroded further, tumbling 918,000 bbl to 5.019 million bbl as of April 5, the lowest stock level since the week ended Dec. 1, 2023. CARB RFG supply at northern n storage sites continued lower, sliding 979,000 bbl while inventory at southern facilities added 61,000 bbl. Data shows production of the for-export gasoline sank 606,000 bbl to 444,000 bbl last week while stocks tumbled 713,000 bbl to 880,000 bbl. CEC reports total inventory of gasoline blending components held higher, up 121,000 bbl to 4.955 million bbl in the week ended April 5, a 16% year-over-year supply deficit. (c) Copyright 2024 DTN, LLC. All rights reserved.
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