September 2016

Trends and Resources

Business Trends: Global refining overview—Part 1

The outlook of an industry can change dramatically in a short period of time. This series will examine the global refining sector in depth—where it stands, and where it is going.

Nichols, Lee, Hydrocarbon Processing Staff

The outlook of an industry can change dramatically in a short period of time. The drop in crude oil prices was seen as a boon for the downstream industry—and, in many cases, it was. Refiners saw their profits rise as their feedstock costs dropped dramatically. As consumption increased, refiners around the world ran their units at high utilization rates to pump out as much product as they could. Ultimately, however, this scenario led to an oversupplied market. This series will examine the global refining sector in depth—where it stands, and where it is going. Photo courtesy of SATORP. Over the past year, the drop in oil prices appears to have bo

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