Crude oil processing 9% lower in August due to weaker demand
The global demand for transportation fuels and other refined products surged after reopening of economies post-pandemic. This surge in demand helped refineries to make extraordinary margins. Higher margins, in turn, prompted the government to impose windfall tax on exports of fuels.
This surge in demand helped refineries to make extraordinary margins. Higher margins, in turn, prompted the government to impose windfall tax on exports of fuels