Refinery margins, crude prices, and investments: Breaking bad-er?
DownloadThis ICF International white paper examines Å·²©ÓéÀÖ pattern of refinery crude runs and margins and Å·²©ÓéÀÖ potential implications of global and domestic product demands on those margins as well as on Å·²©ÓéÀÖ demand and price for crude oil during Å·²©ÓéÀÖ first quarter U.S. refinery turnaround period. Key discussion topics include:
- Record production and crude runs
- Weakening of gross margins
- Lack of demand
- Worsening near-term supply outlook
- Investment and sector impacts
The oil industry is reeling from Å·²©ÓéÀÖ dramatic decline in crude oil prices and Å·²©ÓéÀÖ potential impact on U.S., Canadian, and global crude production. Much less discussion surrounds Å·²©ÓéÀÖ steady declines in U.S. and global refinery margins that have occurred coincident with Å·²©ÓéÀÖ crude price decline and that appear to have led Å·²©ÓéÀÖ crude market down.
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