Record US Refinery Output Not Enough to Close Global Diesel Gap, Analyst Says
Falling diesel exports from Russia, the United States and Saudi Arabia will widen crack spreads despite US refiners running at record levels, according to analyst Andrey Polishchuk
Record refinery output in the United States has not been sufficient to close a global shortfall of diesel fuel, analyst Andrey Polishchuk said, according to TASS.
Polishchuk said that a decline in diesel exports from the world's top three suppliers — Russia, the United States and Saudi Arabia — is set to widen crack spreads, the difference between the price of crude oil and refined petroleum products.
The analyst's comments point to persistent tightness in global diesel markets even as US refiners have increased production to record levels, TASS reported.
No further details on the timeframe or specific figures behind the analyst's assessment were provided in the report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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