The current over-capacity in the global refining industry will keep refinery margins depressed in the medium-term, the Organization of Petroleum Exporting Countries said in their 2010 World Oil Outlook Thursday.
Published on Monday, 08 November 2010 10:59
The combination of the worldwide economic downturn and growth in new refining capacity has lead to a "severe demand collapse and surplus capacity," especially among Organisation for Economic Co-operation and Development, or OECD, members, the group said.
Source: Dow Jones
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