Oil product markets in 2017: midway to a good year
Refinery margins were relatively strong in H1 2017 and look set to remain robust for the rest of the year. Ample crude supply and strong product demand growth has helped. Fundamentals for refining remain positive as capacity additions have slowed down and operational problems have limited utilisation in some regions. We forecast that 2017 will continue to be another good year for refiners.