NEW YORK (AFX) – Poor downstream margins as a result of continuing high oil prices are set to hit third-quarter earnings of the major oil companies, with the weakness likely to continue well into 2003, analysts said. The price of benchmark West Texas Intermediate has been trading on NYMEX at more than US$30 per barrel…
MARKETS: Poor US oil refining margins to hit Q3, weakness seen continuing into 2003
Posted on October 8, 2002 by EnergyAsia