IMO 2020 adds woes to slowing global economy
Platts analytics points to a 35% to 40% chance of a global recession next year, which will be exacerbated by higher fuel prices from the mandatory low-sulphur transition for international shipping. Distillate stocks will run low as IMO 2020 draws near and refinery feedstock prices and freight costs may consequently jump
Platts analytics also projected that green shipping regulations may support pricing of key petrochemicals such as naphtha, which is a base material for producing high-grade gasoline
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