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European oil product markets: 2015 in review & what to look for in 2016

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Report summary

We expect 2016 to be another good year for refiners. Crude prices are expected to remain low for most of the year with crude supply remaining in surplus well into H2 2016. However product demand growth is expected to slow and the surplus of crude stocks will increasingly turn into a surplus of products with excess middle distillates in particular weighing on margins. As a result margins in 2016 should be slightly lower than in 2015.

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    Oil product markets: what to look for in 2016

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  • European oil product markets: 2015 in review & what to look for in 2016: Image 4

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