Middle East Economic Survey

VOL. XLVIII

No 26

27-June-2005

Refiners Barely Able To Meet Distillate Demand, Says SG

Refining capacity constraints have taken soaring crude oil prices beyond the reach of OPEC controls, according to Société Générale (SG). In the Weekly Oils report of 20 June, SG analysts Deborah White and Alexandre Kervinio observe: OPEC is incapable of reducing prices in todays market, as they reminded us so clearly this week talking up the market in the process. They offered us...