IMO 2020 expected to be good for gasoline despite downside potential

摘要

Refiners have a number of options for dealing with the 0.5-sulfur cap for marine fuel that will take effect in Jan.2020 and the anticipated surge in demand for middle distillates associated with the rule.The simplest way to produce more middle distillates would be to boost utilization rates,but then there would be excess gasoline and naphtha to try to sell in an already weak market for light distillates,especially in Europe.