The biggest U.S. refiners expect refining margins to remain strong this year and into 2024, on the back of the EU ban on seaborne imports of Russian fuel and a rebound in Chinese demand, executives said on the earnings calls this week. The EU will ban—effective February 5—seaborne imports of Russian refined oil products and around 1 million barrels per day (bpd) of Russian diesel, naphtha, and other fuels need to find a home elsewhere if Moscow wants to continue getting money for those products. “Uncertainties…
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