Related Articles
Refinery margins are expected to recover this summer
Forward article link
Share PDF with colleagues

Summer sun set to shine on European refining

The warmer months ahead promise margins upside

A surge in summer driving and flying will be welcome news for European refineries. Oil product margins, especially jet fuel, have borne the brunt of low demand during the pandemic but should see a recovery as vaccines and fewer restrictions bring people out of their homes. More people should be travelling—most likely by road, initially, but also by plane as air corridors re-open—boosting consumption of transport fuels. Europeans also have money to spend, as lockdowns led to ballooning savings. The eurozone’s household savings rate (the share of a household’s income going to savings) reached record highs at the end of 2020, according to statistics body Eurostat. $1.70/bl – OMV’s Q



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from South America: Bolivia's shrinking gas role
21 January 2022
Declining production and cheaper LNG threaten the country’s role as gas supplier to its neighbours
US LNG eases European storage crisis
20 January 2022
The US is set to play an even larger role in the global gas market this year, with the country gearing up to overtake Australia as the world’s largest LNG exporter
Wintershall Dea quits Brazil, Argentine shale
20 January 2022
The German independent is overhauling its Latin American portfolio
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video