Moody's: Global refining, marketing industry to see earnings rise this year

04/14/2014
The global refining and marketing (R&M) industry will continue to see pockets of earnings growth over the next year, but flat conditions overall, with product demand expected to increase modestly this year by 1.2 million b/d, according to a recent report from Moody's. That demand increase will be roughly in line with net global capacity additions, Moody's said. The outlook reflects Moody's expectations for the fundamental business conditions in the industry over the next 12-18 months, during which time it expects the R&M sector's earnings before interest, taxes, depreciation, and amortization (EBITDA) to remain volatile but to rise by about 8% through mid to late-2015. North Ameri...
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