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Refining margins - outlook for 2014

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24 January 2014

Refining margins - outlook for 2014

Report summary

Tough times lay ahead for many refiners. Refining capacity will increase during 2014 whilst demand growth for oil products is limited. We forecast that some refiners will have to cut runs and that there will be further permanent refinery closures in Europe. However, many refiners in the US will continue to enjoy very strong margins due to growing local crude supply.

Table of contents

Tables and charts

This report includes 5 images and tables including:

  • Cumulative distillation capacity closures
  • Refinery utilisation for key refining centres
  • NWE product crack spreads
  • Refining margins - outlook for 2014: Image 5
  • Refining margins - outlook for 2014: Image 1

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