One of the world’s top commodity traders, Trafigura, expects the Asia Pacific region to have a deficit of refined oil products by 2025, despite the current fuel glut and despite the new refining capacity in China coming online over the next few years. “Asia Pacific remains in need to import oil products in order to meet its growing demand in 2025 as the region is short of new refining capacity,” Trafigura’s chief executive Jeremy Weir said at the International Petroleum and Natural Gas 2019 conference in Zhoushan, China,…
