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Oil products glut feared as refiners step on the gas

Current recovery in crude prices unlikely to last as user demand hasn't gone up: analysts
Saturday, March 14, 2015 - 05:50

REFINERS HAPPY: The profit from producing petrol in north-west Europe climbed to US$14.48 a barrel on March 11, the most in almost a year. Shell said higher refining margins in most regions supported its 2014 earnings.


AS crude prices stabilised in recent weeks following their collapse last year, one of the key reasons analysts pointed to was bargain-hunting by oil refiners.

Don't expect it to last.

Global refining has surged so much - it rose the most since 2010 in the fourth

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