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Home >Market >Mark-to-market >Refining margins improved in the March quarter
The refining business outlook will remain subdued in the near term as capacity additions are higher than demand. (The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.)
The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.
(The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.)

Refining margins improved in the March quarter

Improvement led by maintenance shutdowns in the US and better product cracks

Singapore gross refining margins (GRMs), an important benchmark for refiners, improved in the March quarter compared with both a year ago and sequentially.

Indian refiners are thus expected to report better financial performance for the quarter. But refining margins for March declined sequentially because a large refining capacity restarted. The refining business outlook will remain subdued in the near term as capacity additions are higher than demand.

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