Insight
Webinar: The long-term outlook for global refining in the face of the energy transition
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Report summary
On 2 September Wood Mackenzie explored the outlook for global and regional oil product markets through to 2050, including: -The pace and extent of market rebalancing over the next decade -The rate of decline in global oil product demand in the face of the energy transition -How key country and regional product balances will evolve through 2050 -Which refinery configurations will fare best over the next 30 years -How refining margins, crude trade and differentials will evolve In addition to the main global themes, in the Pacific Basin webinar we explored the following regional topics: -Implications of peak transport fuels demand in China on its refinery capacity and configurations -How will Asia meet its growing shortage of petrochemical feedstocks? -Asia’s rising crude oil import dependency - how will Asia meet its crude demand? -What impact will refinery start-ups and upgrades in the Middle East have on regional balances, and what’s next for Middle East refining?
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