The refining industry, like many other sectors of the economy, is in an extremely difficult situation due to the COVID-19 pandemic. The introduced restrictions (e.g. closed land, sea, and air borders) resulted in a decrease in the demand for all types of fuels. There are over a dozen refineries in Central Europe which had to reduce cut runs. The persistently low refinery margins...
More →
In 2020, both Belarus and Ukraine purchased US crude oil, albeit for different reasons. The scale of import is small, but the market and international conditions could change it. In particular, if Belarus decides to create a more diversified structure of imports, it could count on the US (export of a similar crude oil grade). Unfortunately, the current political situation is not...
More →