VOL. XLI

No. 45

9-November-1998

GENERAL

Asian Refining Margins Are Likely To Get Worse Before They Get Better,Says CSFB

Asia as a whole should return to positive oil demand growth in 1999,says Credit Suisse First Boston (CSFB) in its report of 19 October entitled AsianRefining Margins: Welcome to Chaos. However, Mark Flannery, author of the report, addsthat this forecast is very sensitive to assumptions on the big four (South Korea, Japan,China and India). CSFB reports that Asia can no longer be...