Market insight papers
European oil refining: Capacity for future volatility
Cuts to European oil refining capacity are making product prices more volatile, but they are likely to continue
Europe has lost a significant share of its oil refining capacity over the past two decades. While closures have supported margins for the refineries that remain, they have also removed the spare capacity that once softened market shocks. The result is a structurally more volatile market for refined products, at a time when costs, regulation and geopolitics continue to reshape the industry.
This insight paper examines why Europe’s refining base has shrunk, how that is changing price behaviour, and what it means for refiners, traders and policy makers in the years ahead.
Read this insight paper to discover:
- Why European product prices and margins have become more volatile — and why that volatility is likely to persist
- Which types of refineries have been most vulnerable to closure, and which have proved more resilient
- How energy costs, carbon pricing and environmental policy are reshaping refinery economics
- Whether future demand trends could slow, stop or reverse refinery capacity cuts
Download the insight paper
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As a leading authority on energy and commodity markets across the globe, Argus is uniquely positioned to provide in-depth analysis and expert thought leadership. Our white papers are carefully written by Argus specialists from across our company. Each white paper focuses on a topical theme, exploring areas such supply and demand dynamics, price trends, trading activity and changing regulations. We always aim to provide a balanced view, underpinned by data and insight gathered first hand from the market.
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