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Barclays: European Oil Stocks Are Tightening
Aug 10, 2017

According to the news of Dow Jones, if there are indications that the global crude oil market will remain over-supply, then the European oil inventories will become tense at least from the current situation. Barclays said Italian refiner Saras has said their company's diesel supply in August has been sold out. Last week the European refining profits rose to its highest level since from September 2015. The weak dollar has stimulated strong demand growth, while also adding a series of unplanned shutdowns, including Shell's huge Pernis refinery shutting down due to the fire. But Barclays said that European oil refining profits will probably fall later this year, because the shutdown refineries began to restart and the Asian new refinery put into operation.

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