Saudis Expand Price War Downstream
Green Car Congress
JULY 28, 2015
We see refining margins weakening on worsening diesel fundamentals, particularly east of Suez, though gasoline should be supportive. On the other hand, it won’t be easy for Saudi Arabia—Chinese refiners are also producing more gasoline, for which demand is still strong. In fact, at $5.60 per barrel in first quarter of 2015).
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