downthehatch The way I see it to focus on the USA refine capacity is simplistic. Here is why: "In 2022, the United States exported about 9.58 million b/d of petroleum to 180 countries and 4 U.S. territories. Crude oil exports of about 3.60 million b/d accounted for 38% of total U.S. gross petroleum exports." The implication is that some 6 b/d of refined petroleum products were exported. If refinery capacity is increased outside of the USA there will presumably be less demand for US refined products.
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