Steady demand: The Staatsolie refinery owned by Suriname State Oil Company in Wanica, Suriname. Analysts warn that the current strength may soon fade as demand is hit by trade wars. — AFP
LONDON: Refiners across the globe are reaping unexpected profits from producing key fuels in recent weeks, offering an ailing sector respite before an anticipated weakening later this year, as plant closures have tightened fuel supply needed to meet peak summer demand.
The strength in fuel markets contrasts with crude oil prices falling to a four-year low in May, after the Organisation of the Petroleum Exporting Countries and its allies (Opec+) unwound output cuts faster than planned.
