Page 32 - Policy Economic Report - June 2024
P. 32
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 21: Refining Margins ($/bbl)
Source- Argus and OPEC
The Southeast Asian gasoline 92 crack spreads experienced a solid loss, registering the most significantly
negative performance across the barrel, followed by gasoil and jet/kerosene. Elevated gasoline volume
inflows from the Middle East amid firm flows from Chinese refiners led to gasoline weakness.
Consequently, the products’ margin dropped to a seven-month low, averaging $6.99/b. This was down
$5.96, m-o-m, and $3.57, y-o-y.
Figure 22: Singapore crack Spreads vs. Dubai ($/bbl)
Source- Argus and OPEC Page | 31
JUNE 2024
