U.S. Midwest refining margin 2019-2022, by oil type
Profit margins for U.S. Midwest refiners were above 18 U.S. dollars per barrel for WCS ex-Cushing coking in the first quarter of 2022, making it the most profitable oil type that quarter. Generally, oil sourced from the Bakken oilfield tends to have the highest profit margin.
For most of 2021, figures have been upwards of 10 U.S. dollars, a notable increase from the margins recorded throughout the coronavirus pandemic. Unlike refiners in Asia and Europe, refineries in the U.S. Midwest were able to keep their profit margins in the positives during that time. The European ARA refining margin went into a loss for certain oil types owing to lower oil demand during lockdowns.
For most of 2021, figures have been upwards of 10 U.S. dollars, a notable increase from the margins recorded throughout the coronavirus pandemic. Unlike refiners in Asia and Europe, refineries in the U.S. Midwest were able to keep their profit margins in the positives during that time. The European ARA refining margin went into a loss for certain oil types owing to lower oil demand during lockdowns.
