A glimpse of recovery for distillates
Falling runs and Middle East maintenance will tighten European distillate supply in Q4
After a prolonged glut stocks will soon start to draw. Not crude oil-but European distillates, the market for which will tighten in Q4 as lower refinery runs curb output and outages from facilities in the Middle East reduce its exports. The fourth quarter usually sees a shortfall of distillates in Europe. But this one will be deeper. European refinery runs are expected to average around 12.3m barrels a day in Q4, down 200,000 b/d from Q3 levels. In Q1 2017 they are expected to fall further, down to 12m b/d, according to Energy Aspects. Both the 400,000-b/d Yasref refinery on Saudi Arabia's Red Sea coast and the 0.53m-b/d Ras Tanura facility on its Gulf coast are expected to undergo large-sca
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
