Global oil refiners see short-term boost from higher margins
3 June 2025
Time to read: minutes
“Margins are strong because the balance of products – supply and demand – is still tight,” said Sparta analyst Neil Crosby.
Reuters, June 3, 2025 – Global refining margins surged to a 14-month high in May, driven by plant closures in Europe and the U.S. that tightened fuel supply ahead of peak summer demand. Sparta Commodities analyst Neil Crosby highlighted that the balance of product supply and demand remains tight, which has been a key driver for higher margins. However, analysts warn that this short-term boost may fade later in the year as fuel production ramps up and trade uncertainties weigh on global demand.
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