07.10.2011 - Crude Oil refining capacity surplus to depress margins in 2012: BofAML
Rapid growth in crude distillation (CDU) capacity additions especially in Asia Pacific would Lead to refining surplus of 500 thousand barrels per day which would put pressure on margins in this sector, according to an analysis by Bank of America-Merrill Lynch (BofAML). In 2011, capacity addition expected is 630 thousand b/d which would rise to 2 mn b/d in 2012 outpacing demand by 500,000 b/d. IN 2013, the capacity will likely grow by 1.6 mn b/d, BofAML analysis said..............................................Full Article: Source
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