Tight refining boosts prices and caps demand

摘要

Refinery constraints are keeping product prices strong and could put a cap on demand growth this year.Global oil demand in the first quarter was lower than expected,indicating that high prices may be starting to bite.Argus puts first-quarter demand at 85.1mn b/d,300,000 b/d lower than predicted a month ago,with deliveries in Japan,South Korea and key EU countries down on a year earlier.