Oil refiners gear up for good times

Higher demand: An employee inspects processing and refining structures in the Duna oil refinery in Hungary. Refineries in Europe and the US have scaling back planned maintenance in anticipation of a surge in demand and fatter margins. — Bloomberg

LONDON: Oil refiners are getting ready for a boom.

The plants in Europe and the US are scaling back planned maintenance later this year in anticipation of a surge in demand and fatter margins as the shipping industry gets ready for a historic fuel switch. Analysts say a similar picture is emerging in Asia, too.