Middle East Economic Survey


No 32


Refineries Overstretched, Says Société Générale

Why do crude prices remain so high when demand growth is clearly slowing, Société Générale (SG) analysts Deborah White and Alexandre Kervinio ask in the Weekly Oils reports of 1 August. Simple enough, they argue. The marathon that refiners have been running for the past year and a half is far from finished, and their plants have already begun to show clear signs of exhaustion. Refiners have...