US refiners cornered as supply options become limited
Weighed down by higher costs and lower margins, the US downstream sector is facing closures that could shrink capacity
With the US just shy of starting an all-out trade war, American oil refiners are attempting to make sense of President Donald Trump’s tariff threats as crude imports become a less reliable option for declining domestic refinery capacity. In the latest development to the new administration’s tariff proposals, Trump announced plans on 13 February for reciprocal tariffs on “closed” countries that tax imports from the US, according to a factsheet released by the White House on the same day. The move aims to expand the US’ trade access in countries where export tariffs are disproportionate to those offered by the US for importing the same products. Essentially, the tariff-matching programme would
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
