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4 Refiner Picks For “Lost Decade” in Asia

It may be a lost decade for oilfield services in Asia, but some refiners are attractive, J.P. Morgan says in a fresh note.

Oil prices were flat in recent trading, with the international Brent price at $47.30 per barrel. The United States Oil Fund (SO) was up fractionally.

Scott L. Darling, Parsley Rui Hua Ong, Ajay Mirchandani, Sumedh Samant, Pinakin Parekh, Andre Chang and Sagar S. Sanghavi note the trends of the moment:

  • China: apparent oil product demand growth was 4% year on year in May, +320,000 barrels...

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