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OPEC cuts to leave Asian refiners in lurch


OPEC cuts to leave Asian refiners in lurch

Report summary

On November 30th 2016, OPEC agreed to cut production by 1.2 million b/d for the first six months in 2017, with a potential roll-over to the second half of the year.  If these cuts are implemented in full, we expect the crude oil market to get tighter, having three major implications for Asian refiners in terms of sourcing alternative crudes, dealing with heavy crude shortage and paying higher premium for crudes.

What's included?

This report includes 1 file(s)

  • OPEC cuts to leave Asian refiners in lurch PDF - 250.36 KB 4 Pages, 0 Tables, 2 Figures

Description

This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Executive summary
  • Non-OPEC share of Asian refiners' crude runs to increase
  • OPEC cuts will further tighten the heavy crude market
  • Asian premium for Middle East crudes to rise

In this report there are 2 tables or charts, including:

  • Executive summary
  • Non-OPEC share of Asian refiners' crude runs to increase
    • Year-on-year change in the share of Asian crude runs, kb/d
  • OPEC cuts will further tighten the heavy crude market
    • China and India heavy crude oil demand and supply (change versus 2015), kb/d
  • Asian premium for Middle East crudes to rise
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