Our Refining Views report series provides a comprehensive understanding of the global refining industry and petroleum product markets. At the centre of our analysis is an industry-leading, state-of-the-art propriety refining model that allows our analysts to properly differentiate between regions, refining setups, and relevant crude oil baskets.

Distilling what you need to know Distilling what you need to know
Refining margin models Refining margin models
Refinery outages and capacity additions Refinery outages and capacity additions
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Global refinery margins
Our most popular report

Global Refinery Margins

In this weekly report, we analyse the underlying complexities of the global refining market, presenting product-by-product updates for key regions: East of Suez, Americas, and the wider European region including the Former Soviet Union and Africa.

  • Analysis of weekly movements in petroleum product crack spreads including a short-term outlook, informed by arbitrage calculations, refinery maintenance updates and secondary processing unit margins.
  • Weekly updates to benchmark refining margins for each region using our proprietary in-house refining model.
Latest issues

Issue 9 - 1 Mar'21

With demand expected to be moving out of the woodwork, it is on OPEC+ to increase supply

Issue 8 - 22 Feb'21

Unprecedented conditions are forcing refinery operators into new territory, with return schedules uncertain

Issue 7 - 15 Feb'21

Even with the expected return of medium and heavy sour OPEC+ crude to the market we see limited effect on HSFO cracks

Issue 6 - 8 Feb'21

Continued pressure on oil demand is on the cards if movement restrictions do not ease.

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Quarterly refining outlook
A must-read for refinery planners

Refining Outlook

Refining Outlook is an extensive quarterly publication that offers clients an excellent synopsis of the latest and projected developments on global petroleum products and refining markets in two parts.

  • Part one investigates the general market conditions concentrating on the economy, supply and demand, inventories, freight, regulatory changes, and emissions.
  • Part two presents a detailed petroleum product-by-product outlook for the next quarter including outlooks for refinery maintenance and upcoming expansions.
  • Also includes data compilations of our balance figures, refinery maintenance and refining capacity additions.
Latest issues

Issue 4 - 18 Dec'20

After the challenging 2020 2021 offers some relief for the global refining system, but too much optimism is premature at this stage.

Issue 3 - 22 Sep'20

With jet fuel demand still far below last year's levels, refiners face strong pressure to reduce distillate supply. Margins continue to suffer, bringing with them increasing consolidative pressure.

Issue 2 - 26 Jun'20

The market's new normal remains a rather precarious state, with overcapacity on the crude and product supply side its defining features.

Issue 1 - 27 Mar'20

-Quartus horribilis ahead -Impacts of Coronavirus on demand, supply, balances, and stocks