US Crude Output Hits Record as Refinery Margins Surge

September 30, 2026

News summary: Reuters reported U.S. weekly crude output reached a record 13.955 million bpd in the week to September 25. Refiners ran at 96.3% capacity as tight global fuel supply lifted diesel and gasoline crack spreads.

Market context: Higher upstream output did not automatically ease product tightness; refinery utilisation, export policy and crack spreads remained decisive for international fuel availability.