Page 1 - DMEA Week 10 2020
P. 1
Issue 440 13•March•2020 Week 10
Zero sum game
Russia and Saudi Arabia are locked in another supply war, at a time when demand is weak because of the COVID-19 crisis.
Tough times ahead
Low oil prices offer some despite, but the outlook is grim as COVID-19 saps fuel demand and new capacity is brought on stream.
Driving growth
Iran is expected to drive refining capacity growth in the Middle East, adding an extra 1mn bpd by 2024, according to GlobalData.
Petchem push
OMV has expanded its stake in Borealis, giving it greater say over a major petrochemical project in the UAE.
