U.S. Refiners Face New Challenges in 2025 ...Middle East

Declining refining margins, slowing global fuel demand growth, and uncertainty about tariffs under the incoming U.S. administration are expected to continue challenging American refiners this year, analysts reckon. Following record refining margins and booming profits in 2022 and early 2023, the U.S. and global fuel markets started to normalize in the latter half of 2023 and refining margins began to ease from the record highs seen in the immediate aftermath of the Russian invasion of Ukraine. For U.S. refiners, margins dipped last year. The top…

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