Also known as: intermediate streams, blend stocks, unfinished oils
An intermediate refers to any refinery hydrocarbon stream that is not a crude oil or one of the finished petroleum products (such as gasoline). This includes all of the outputs from distillation (distillation fractions) and from the conversion units.
Typically, intermediates are produced and consumed within the same refinery. Most are used as feed to conversion units or as blend stocks to make finished products. However, it is not uncommon for refineries to trade small volumes of intermediates among themselves on occasion.