Our major Feedstocks for Profit Study last year foresaw difficult times ahead for European refiners. Now it seems this forecast by our partners, refining experts Wood Mackenzie, is coming true.
Total, Europe's largest refiner, today reported that European refining margins fell 85% in Q3, to just $6.60/bbl, the lowest level for 7 years. And they note that demand for oil products is falling, as the economy remains slow and consumers cut back on travel.
Wood Mackenzie will give their latest insights at our European Aromatics & Derivatives Conference next month in Amsterdam, co-organised with ICIS. Attendees will also hear from several leading industry experts including speakers from BASF, Shell and Reliance.
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