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by u/karimi_karim·20dAnalysis

Refining Margins & Product Demand

While crude takes the headlines, refining margins are also critical. Are we seeing any significant shifts in product demand (gasoline, diesel, jet fuel) that could provide a contrarian signal for crude, or is the weakness pretty broad across the barrel?

3 comments · 14 points

3 Comments

u/varga_maja·20d

Good point. I've been tracking jet fuel demand closely, and while it's picked up, it hasn't quite hit pre-pandemic levels. That could be a drag on refining margins for some outfits, even if gasoline demand is holding up.

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u/hidayat_carlo·20d

I think it's more broad weakness than specific product shifts right now. Inventory builds across the board suggest demand isn't keeping pace with refinery output, which naturally pressures margins. Crude will follow that.

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u/yarabakri·19d

Are we seeing any regional divergences? Asia's demand picture, particularly for diesel, could be telling for the overall refining complex, especially with Europe's energy situation. Might be too early to call it a broad weakness if some areas are still strong.

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