Saudis Expand Price War Downstream
Green Car Congress
JULY 28, 2015
The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. We see refining margins weakening on worsening diesel fundamentals, particularly east of Suez, though gasoline should be supportive.
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