March 2020

Trends and Resources

Industry Metrics

High product inventory levels and weak heating oil demand continued to weigh on U.S. refining economics. European product markets, except gasoil, exhibited positive performance backed by firm exports and heavy turnarounds in the Middle East.

Rhodes, Mike, Hydrocarbon Processing Staff

High product inventory levels and weak heating oil demand continued to weigh on U.S. refining economics. European product markets, except gasoil, exhibited positive performance backed by firm exports and heavy turnarounds in the Middle East. In Asia, product markets saw a mild upside driven by solid HSFO gains, while other product crack spreads experienced losses. The negative impact of the coronavirus outbreak on Asian product markets triggered negative demand-side signals. However, the effects of the outbreak are expected in the coming month. HP

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