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BP: Time For A Turnaround
2016-04-05 23:57:59| Chemicals - Topix.net
BP's weak downstream performance last year and continued softness in refining margins in the beginning of 2016 have weighed on the stock, but things are about to get better. The EIA has raised its gasoline consumption forecast for 2016 thrice already from 10,000 bpd to 90,000 bpd, which is not surprising as consumption is stronger than last year already, Gasoline prices usually peak in the summer months as the driving season gets underway, indicating that BP will see a bump in refining margins in the current quarter.
Tags: time
turnaround
Category:Chemicals