BP (BP/ LN) CEO says Co. has adjusted its refineries to shift focus from jet fuel to diesel production

Refinery yield shifts of this kind are a routine lever: crude slate and distillation give operators limited flexibility, but the conversion and blending units allow incremental movement between jet and diesel output within a refinery's existing configuration, and majors have adjusted these dials repeatedly when relative crack spreads have diverged. The operative signal is which crack is being chased: a move toward diesel implies the gasoil crack is carrying the margin while jet remains weak, a configuration historically associated with soft aviation demand or an overhang of middle distillate capacity rather than any change in crude fundamentals. Refinery-level commentary of this kind has tended to confirm the prevailing shape of product spreads rather than to set it, since a single major's slate adjustment is small against global diesel supply. The read-across is to the jet/gasoil regrade and to diesel cracks, not to WTI itself, where refinery output mix is a second-order factor. Worth observing is whether other integrateds describe the same yield pivot, which would indicate the regrade has reached levels that move the whole fleet rather than one company's book.