After reaching record levels in 2019, U.S. petroleum refining capacity tapered off substantially this year as several refineries closed amid demand declines hastened by the coronavirus pandemic, federal data posted Thursday showed.

refining capacity

As of Sept. 1, the latest available data, the United States had 18.4 million bbl per calendar day (b/cd) of operable petroleum refining capacity, the lowest level since 2016, according to the U.S. Energy Information Administration (EIA). The year-to-date figure is down from 19.0 million b/cd last year, a level that marked a 1% increase from the previous annual record set in 2018.

Operable refinery capacity is the amount in operation or which could be brought into production within 90 days, according to EIA.

Capacity dropped by 335,000 b/cd from...