BAKU, Azerbaijan, April 15. OECD Europe crude runs are expected to bounce back to an average of 11.2 mb/d in the second quarter of 2024 and 11.5 mb/d for the entire year, marking an increase of 80,000 b/d year-on-year the International Energy Agency (IEA) says, Trend reports.
According to the agency, refinery throughputs in OECD Europe dropped by another 340,000 b/d in February, reaching 11.3 mb/d, as increased maintenance led to lower processing levels. January's data, initially estimated at 11.6 mb/d, were revised upwards by 150,000 b/d due to stronger runs in Germany.
Estimates for March were reduced by 180,000 b/d due to unplanned outages, including those at several French refineries, indicating that March is likely to be the seasonal low point for European runs at 10.9 mb/d.
In 2024, the recovery is anticipated as German and Spanish activity is projected to recover from last year's weak levels, the IEA noted.
However, forecasts for crude throughput in 2025 have been revised downwards by 300 kb/d to 11.2 mb/d due to capacity closures in Germany and the UK, which are expected to impact activity levels.