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 product. However it is not uncommon for refineries to trade small volumes of intermediates among themselves on occasion.