Gasoil crack will be pressured by high stock in all regions.
Gasoline crack will be stabled as US gasoline demand is expected to stay weak as a result of the pandemic however COVID-19 vaccine had proven to be more than 90% effective in a phase 3 trial.
Fuel oil crack will be supported as refiners are cutting their run rates and demand from bunker and power sector.
Market Highlights in 2021:
Expected manufacturing and industrial recovering after Covid-19 impact.
The Fuel Oil’s supply in the worldwide will be continued to fall on the back of continued refinery modernization and implementing 0.5%S bunker.
Expected growth in Middle Distillate consumption will recover after Covid-19 under control.
