Romania is one of the few markets in Europe that has a positive outlook for oil product demand. We forecast demand to expand steadily, reaching 10.4 Mt by 2030. This underpinned by economic growth and transport fuels will be further supported by rising car ownership which is currently the lowest in Europe. The local retail market remains dominated by four players: OMV Petrom, Rompetrol, LUKOIL and MOL. However, there is a downside risk that these retailers could see some of their position be eroded by some of the newer players that have entered the market in the past decade, namely SOCAR and NIS. There has been considerable investment the modernisation of the retail network and the larger operators have been expanding their non-fuel offering. Market leader OMV Petrom opened a new polyfuel unit in 2019 at its Petrobrazi refinery. This will convert LPG feedstock into diesel and gasoline, further enhancing the company's dominant position on light, high-value fuels.