Storage may be filled by the fall with global crude oversupply running at 2 million barrels a day and low-cost producers continuing to boost output, Goldman analysts including Jeffrey Currie said in a report on Thursday.
Refining margins in Asia have come under pressure in recent months as refiners there increased processing runs and Saudi Arabia increased diesel exports from its new Yasref refinery, a joint venture with China’s Sinopec that reached full capacity in June.
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