Closer to the asset
The supply and demand balance of world oil has undergone a fundamental change in recent years with increasing demand from China and other emerging markets occurring at a time of relatively inelastic supply. Both oil production and refining capacity are strained, storage is becoming scarcer, and capacity issues are evident throughout the supply chain, which is likely to keep oil prices not only high, but volatile.
The change in market fundamentals has an impact on businesses throughout the supply
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