Diesel at the Heart of the Upward Surge

Goldman Sachs has warned of a global refining capacity shortage driven by wars in the Middle East and between Moscow and Kyiv, while raising its profit forecasts for diesel production to more than double. Analysts stated, “The increasing strikes on refineries in the Middle East and Russia have further constrained global refining capacity, which is already under severe pressure, pushing refined product margins to new record highs.” They added, “Diesel remains at the heart of the upward surge.”