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MNI Commodity Weekly (Oil & Oil Products): Global Refining Additions Shaping New Markets

Executive Summary:

  • Global Refining Additions Shaping New Markets: A number of major refining projects have come online or are ramping up in 2024, creating a shake up for typical oil and oil product market dynamics. See updates for Dos Bocas, Al Zour, Dangote, Yulong and Duqm.
  • Oil Market: Crude market prices point to an increased focus on downside pressures with a more pessimistic demand outlook driving Brent front month towards recent range lows. US gasoline cracks are also softer with ending refinery maintenance, the temporary suspension of Russia’s gasoline export ban and US plans to release gasoline reserves. (Pg.4)
  • Analyst Views: See latest analyst views on oil markets from biggest market names. OPEC significant focus. (Pg.7)
Full piece here:

MNI Commodity Weekly (Oil & Oil Products) - Global Refining Additions Shaping New Markets.pdf




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Executive Summary:

  • Global Refining Additions Shaping New Markets: A number of major refining projects have come online or are ramping up in 2024, creating a shake up for typical oil and oil product market dynamics. See updates for Dos Bocas, Al Zour, Dangote, Yulong and Duqm.
  • Oil Market: Crude market prices point to an increased focus on downside pressures with a more pessimistic demand outlook driving Brent front month towards recent range lows. US gasoline cracks are also softer with ending refinery maintenance, the temporary suspension of Russia’s gasoline export ban and US plans to release gasoline reserves. (Pg.4)
  • Analyst Views: See latest analyst views on oil markets from biggest market names. OPEC significant focus. (Pg.7)
Full piece here:

MNI Commodity Weekly (Oil & Oil Products) - Global Refining Additions Shaping New Markets.pdf