Global Downstream Sector Slump: Will It Drive Out The Big Integrated Oil Companies From The Refining Sector?

Uncertain product demand, decreasing refinery margins and surplus refining capacity are negatively affecting global downstream businesses. While product demand is declining, refining capacity is increasing resulting in a supply-demand mismatch. Consequently, the profitability of the refining businesses is decreasing rapidly prompting major companies to plan the divestment of their downstream operations. The rise in crude oil prices in recent weeks will spur companies to invest in the upstream sector. However, it remains to be seen whether these factors will drive the major integrated companies to divest the low margin downstream businesses in the coming months.

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