South Korea's SK Energy will limit the production of petroleum products in the second quarter

According to a report from Petroleum News Singapore on May 19, 2021, as the mobility of personnel increases, the refining profit margins of transportation fuels including gasoline, diesel and aviation fuel have increased significantly from the 2020 level.

Statistics show that so far this year, the average cracking spread of FOB Singapore 92-octane gasoline cracking to ICE Brent crude oil futures is US$5.

The cracking and price improvement of middle distillates in Asia has prompted several major refineries in Asia to increase their operating rates and increase overseas sales of refined oil products.

Li Jun compiled from Petroleum News

The original text is as follows:

S Korea's SK Energy to limit Q2 oil product output amid fragile Asian demand

Transportation fuels - including gasoline, diesel and jet fuel - saw their refining margins improve sharply from 2020 levels amid a pick up in mobility, but South Korea's top refiner SK Energy plans to maintain a conservative approach in middle distillate production as the outlook for Asia's fuel demand remains fragile.

The FOB Singapore 92 RON gasoline crack against front-month ICE Brent crude futures averaged $5.

The improved Asian middle distillate cracks and prices have encouraged several major refiners across Asia to raise their run rates and increase refined product sales overseas.