While the end of lockdowns allowed for gasoline consumption to resume, there is a large inventory overhang in the end products. This is due to refineries (including Saras) not cutting their runs to the extent of the destruction in demand. This will leave the market oversupplied for some time, making the outlook particularly negative for European refiners.
31 Jul 2020
Q2: outlook remains fragile
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Q2: outlook remains fragile
SARAS S.p.A. - Raffinerie Sarde (S7A:FRA) | 0 0 0.4% | Mkt Cap: 1,544m
- Published:
31 Jul 2020 -
Author:
Kevin VO -
Pages:
3
While the end of lockdowns allowed for gasoline consumption to resume, there is a large inventory overhang in the end products. This is due to refineries (including Saras) not cutting their runs to the extent of the destruction in demand. This will leave the market oversupplied for some time, making the outlook particularly negative for European refiners.