Tight Fuel Markets Boost Profits for Oil Refiners ...Middle East

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Tight Fuel Markets Boost Profits for Oil Refiners
source : OILPRICE ( Middle East ) () 50
Refining capacity closures and resilient fuel demand have tightened global fuel markets in recent weeks, benefiting refiners globally. Refining margins have been rising this year and hit in May the highest global composite margin in more than a year. As the driving season begins and summer approaches, peak demand in the northern hemisphere is here. Refiners, including U.S. refining giants, are benefiting from the higher margins, although these margins are far below the record highs seen in 2022 amid the oil market turmoil. Still, global composite…

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