Commodity Market Report
Saudi Arabia product markets long-term outlook H1 2020
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Report summary
Saudi Arabia is a large exporter of LPG and naphtha primarily driven by large contributions from non-refinery supply sources. Middle distillates are also surplus as a number of large-scale, export-orientated, refineries have completed in the past few years. We expect the third greenfield refinery, Jazan, to come onstream during Q3 2020. Gasoline remains balanced in the medium term as strong domestic demand matches additional supply.
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