U.S. Refiners Prefer Domestic Crude
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more domestic crudeReuters
•Business
Business & Economics
Analysis-US refiners unlikely to spend big to process more domestic oil
77% Informative
U.S. refiners are not planning to make big-ticket investments to process more domestic crude and less oil from top suppliers Canada and Mexico , industry sources and analysts said.
President Trump has focused on increasing domestic oil drilling but tariff threats have cut imports of crude from Canada , Mexico .
Switching the setup can be a lengthy, expensive process and taking years and millions of dollars .
Heavy crude tends to produce higher volumes of petrochemical feedstock naphtha and less of the more profitable diesel and jet fuel.
If tariffs cut supplies of Mexican and Canadian crude, refiners are more likely to turn to other suppliers of similar oil, such as Colombia .
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