IMO 2020 refining gains to give way as economies slow
Argus Media’s chief economist says refiners may benefit from improved diesel cracks but these will not hold beyond early part of 2020. The positive spillover from IMO 2020 will fade in the second half as negative macroeconomic forces hit home
David Fyfe of Argus Media says that while IMO 2020 is supposed to fuel a bull run for refiners’ yield, these may be outweighed by shrinking petrochemical demand spilling over from the protracted US-China trade spat
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