Goldman Sachs Sees Diesel Refining Margins Soaring to $63 a Barrel

Refiners are set to reap stronger profits on the global diesel shortage, Goldman Sachs has said, revising its earlier profit forecast to double the total profits that refining companies would make from the squeeze.

“Rising strikes on refineries in the Middle East and Russia have further constrained already-stretched global refining capacity, pushing refined-products margins to new highs,” the bank’s analysts wrote in a note, as quoted by Bloomberg.