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Refining: Higher Runs Prevent Price Spike But Tightness Looms

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Refinery run rates remained high at 82.2 million barrels per day in December, virtually unchanged from November. This caused margins to slide further in the Atlantic Basin while Asia stayed profitable, if only just, on rising demand. Where margins might be going is uncertain, although the scale seems to be tipping again towards tightness — and higher profits.

Topics:
Refining, Oil Products, Oil Trade, Oil Supply, Oil Demand
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