Refining Sector Facing Low Short-Term Demand

摘要

Refiners have plunged from a seeming "golden age" investment environment to a world with excess capacity, flat to declining demand and weak margins.rnThese factors are encouraging refining sector operators in the United States, which has a huge influence on Canada, to turn more to distillates rather than gasoline, say several industry observers.rn"Refiners are trying to turn facilities more to distillates," Steven Kelly, senior vice-president at Purvin & Gertz Inc. (P&GI) in Calgary, said during the recent Canadian Energy Research Institute oil conference.rnKelly's view was supported by a sector analyst at the Energy Information Administration (EIA) in the U.S.