Asia Pacific oil product markets: 2015 in review & what to look for in 2016
Asian refiners enjoyed healthy margins in 2015 as low oil prices led to lower outright product prices, stimulating demand. 2016 should be another good year for Asian refiners as demand growth outpaces capacity growth in Asia. Demand growth continues to remain robust with gasoline driving that growth yet again. Anticipated higher levels of refinery maintenance and expected continuation of crude price discounts should lend support to the margins in 2016.