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Oil Refining Margins and What They Say About the Market

Jun 23, 2023

With an uncertain picture on oil supply and demand, traders are searching for any clear clues on where the market is headed.

On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations. Oil futures initially rose, then fell again because the market is dogged by uncertainty about demand.