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Emerging trends for Asian crude and product markets

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21 February 2018

Emerging trends for Asian crude and product markets

Report summary

Asia is set to enjoy another healthy year for refinery margins in 2018, primarily driven by strong demand growth. Crude capacity additions in Asia continue but these are not keeping pace with demand growth. This is exacerbated with refinery investment delays and closures, which consequently lends support to refinery margins. Moreover, Asian crude production is in decline but we forecast regional crude runs to increase by 400 kb/d year-on-year.

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