Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

SUPPLY/DEMAND

Downstream Sector Showing Signs Of Slowdown, Says DRKW

Recent high refining margins carried over into June, but the global downstream sector is showing signs of a slowdown, according to Dresdner Kleinwort Wasserstein (DRKW). In the Downstream Dynamics report of 23 July, DRKW analysts Vipin Ahuja, Paul Spedding, Neill Morton and Rachel Beaver write: 3Q04 has started with even stronger refining margins than the exceptionally...