|
|
|
SDemand for petroleum products are in a major
upswing in 2004, and most analysts predict a continuation of growth in 2005
|
|
|
|
SHistorically, oil product growth has varied
considerably. After the major demand
decline in the early 1980s following the large increase in crude oil prices,
demand growth has varied up to about 2 million barrels per day.
|
|
|
|
SSome market analysts believe that the strong
growth of 2004 and 2005 will absorb all surplus refinery capacity, creating a
“refinery capacity crisis.” We see
higher utilization occurring but not reaching a cliff edge or crisis
situation.
|
|
|
|
|
|
|
|
|