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Oil rebounds quicker than fuel
Data indicates that crude oil and condensate exports from Gulf countries recovered to 91% of pre-crisis levels in September, while exports of refined products remained around 60%. This is primarily because most efforts are focused on restoring crude supplies, whereas refinery and transportation systems continue to suffer from bottlenecks that impact the conversion of oil into fuels such as diesel and jet fuel, especially in global markets. The issues related to refining and transportation account for the majority of the impact on energy market balance, with diesel and jet fuel prices continuing to rise despite improvements in crude oil supply. Additionally, the recovery of oil exports clearly outpaces that of the fuel market, leaving the sector vulnerable to any new disruptions in petroleum product supplies. This situation sustains pressure on prices and costs.
Notice: This Is an AI-Generated Summary
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