UNITED STATES – Global refining margins remain under scrutiny as crude oil prices fall following renewed diplomatic attempts between the United States and Iran. According to The Wall Street Journal, Spanish energy major Repsol is likely to gain from higher refining margins until 2027, while Reliance Industries’ oil-to-chemicals earnings remain attractive to investors. Despite persistent petroleum market volatility, favourable refining margins may boost profits for certain energy corporations. Changes in crude oil pricing and refining circumstances may also affect refinery operating costs, conventional base oil markets, and the competitiveness of re-refined base oils (RRBO), depending on market demand.
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(Source: The Wall Street Journal)