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Oil refining capacity to reach a record in 2019

According to EIA’s report, global oil refining capacity is expected to increase rapidly, resulting to a product boost from diesel, to gasoline, to marine fuel. The capacity will grow by 2.6 million barrels per day and the demand for the refined products will be approximately on 1.1 million barrels per day.

Germany’s gas imports decrease in Nov, up in Jan-Nov 2018

Germany’s gas imports decreased by 9% in November 2018 in comparison to the same month in 2017, according to Reuters. Yet, imports during the first 11 months, from January to November, experienced an increase of 9% than the same period , a year earlier.

API: Marine shipping demand slow in October

Marine shipping activity and residual fuel oil demand were supported by US importers who were building inventory ahead of the holiday season. This activity was also supported by efforts to deal with escalating tariffs from the trade war between USA and China. However, marine shipping was slow in October, while the Baltic Dry Index was less by 5.5% between September and October.

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