OGJ Newsletter

Market MovementRefining sector: secular recovery?The evidence continues to mount that a secular recovery is under way in the world refining industry.As always is the case in refining, any recovery-or downturn-varies widely by geographical region. But the case is clear for a rebound in the refining business with the strengthening of margins across the board.Refining margins were already starting to look much better a year ago at this time, and they jumped sharply in the first quarter vs. the same period a year ago. Click here to enlarge imageAccording to Merrill Lynch, average first quarter 2001 refining margins for all of the major North American and European refining centers have outstr...

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