FGE said the IEA now expects global refinery runs to grow by a mere 0.7 million barrels a day in the whole of 2019, a big revision from last month's report (+1.2 mln b/d) and only half of FGE forecast (+1.39 mln b/d). The IEA's forecast appears exceptionally low, FGE added, pointing out a previous IEA expectation of 2.6 mln bpd of new capacity this year.
Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub registered a small uptick, with fewer exports going to the United States as strong transatlantic demand from recent weeks subsided somewhat, said Insights Global's Lars van Wageningen.