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US Downstream Market Outlook

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Refinery capacity effectively full including<br />

the impact of feedstocks in Europe . . .<br />

25<br />

20<br />

15<br />

10<br />

Million Barrels per Day<br />

1995 2003<br />

93%<br />

91%<br />

92%<br />

90%<br />

88%<br />

85%<br />

5<br />

0<br />

U.S. Europe Asia<br />

Note: European capacity utilization includes secondary feedstocks.<br />

14

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