Asian refiners are struggling with a major slump in profit margins because of the resurgence in Covid-19 infections in the region, Bloomberg has reported, citing the latest trends in complex refining margins in Singapore. These fell from $1.65 per barrel in April to just $0.03 per barrel in the middle of May.
Since then, the report notes, however, margins have begun improving and are expected to continue strengthening, especially in the second half of the year when vaccinations are expected to improve the fuel demand outlook. At the end of May,…Asian Refinery Margins Crash To Nearly $0
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