The Energy Information Administration projects that US oil refining capacity is down for a second year in a row, declining from 18.09 million barrels per day at the beginning of 2021 to 17.94 million bpd as of Jan. 1, the lowest level since 2014 and down from the 18.98-million-bpd record set in 2020. Nearly 1.3 million bpd of North American refining capacity, including over 600,000 b/d in Louisiana, has been shut in the past three years.