Shell: Refining Margins Remain Under Pressure

Shell Refining Co's refining margin is expected to remain under pressure owing to weak recovery in crude oil demand.

The company's refining margin has come off from the peak of an average U.S.$7 per barrel in 2015 to about U.S. $4.96 per barrel in the first quarter of this year, SRC chairman Datuk Iain Lo was quoted to have said after the group's annual general meeting Thursday, as per the report

"We expect the margin to continue to be under pressure if the demand does not pick up but oil price [continues to] recover," Lo said adding the margins will continue to be volatile.

Reporting by Apeksha Nair