Latest insights
Our team of 600+ commodity market experts keep you up-to-date on the energy and commodity markets as they evolve. Explore our latest complimentary written, audio and video content.
IEA cuts global refinery runs forecast
IEA cuts global refinery runs forecast
London, 12 September (Argus) — The IEA has trimmed its forecast for global refinery runs in 2024-25 as weakening refining margins weigh on throughput. In its latest Oil Market Report (OMR), the IEA said it expects global crude throughput at 83mn b/d this year, down from its previous projection of 83.3mn b/d. The agency puts throughput in 2025 at 83.7mn b/d, down from 83.9mn b/d previously. Economic run cuts are expected in the second half of this year as a result of a deterioration in refining margins, the IEA said. Some operators may not cut runs quickly enough in concert with other refiners to support margins, it said, although it noted that Atlantic basin refinery turnarounds this autumn should boost refined product values. The IEA forecasts that refinery runs will contract by 100,000 b/d each in OECD and non-OECD Europe this year compared with 2023, as refineries in the region temper throughput to support margins. Throughput in the former Soviet Union is projected to fall by 200,000 b/d, partly reflecting planned maintenance at Russian refineries in September and a power-related outage at Belarus' 240,000 b/d Mozyr refinery. The agency expects Chinese throughput to drop by 450,000 b/d in 2024, as lacklustre margins prompt independent refiners in Shandong to rein in activity. Chinese throughput declined by 960,000 b/d on the year in July alone, the IEA said. But an uptick in run rates may emerge ahead of the Golden Week holidays at the start of October and a seasonal peak in construction activity at the end of the third quarter, it added. Non-OECD runs are forecast to increase by 640,000 b/d this year, underpinned by new refineries in the Middle East ramping up throughput. The IEA now expects Middle East crude runs to rise by 800,000 b/d this year compared with 2023, which is 200,000 b/d more than its previous projection last month. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Works to stop Leuna refinery bitumen output in October
Works to stop Leuna refinery bitumen output in October
London, 12 September (Argus) — Bitumen production at TotalEnergies' 240,000 b/d Leuna refinery in northeast Germany will be halted for the duration of a major planned month-long maintenance shutdown at the refinery starting in early October, market participants said today. With the halt having been planned well in advance, the market sources indicated stocks of the heavy oil product used for road paving and other construction work were currently being built up to manage supply during the shutdown period. That will help meet peak season requirements for road and other project work during the autumn and mitigate the impact of the bitumen stoppage at one of Germany's key bitumen-producing refineries. German market participants have indicated over the past few days that some maintenance work began at the refinery on 6 September ahead of the planned shutdown of oil products units there at the start of October , with diesel stocks being raised ahead of the turnaround. By Keyvan Hedvat and Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Czech Litvinov refinery bitumen loadings resume
Czech Litvinov refinery bitumen loadings resume
London, 12 September (Argus) — Bitumen truck loadings have resumed at the 108,000 b/d Litvinov refinery in the Czech Republic after the discovery of an unexploded World War 2 bomb caused an unplanned shutdown last month, market sources said. The refinery was forced to shut on 21 August to enable the bomb to be removed. It restarted over the 31 August-1 September weekend , but bitumen truck supply only resumed this week, market participants said. The refinery's operator, Orlen Unipetrol, has been offering spot truck volumes at around €450/t ex-works, with discounts of around €20/t for sales to key buyers in domestic and inland export markets. Argus assessed Czech truck bitumen prices at €495-505/t ex-works for the week ending 6 September, with those values largely notional in the absence of bitumen supplies from Litvinov. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Francine moves inland as tropical depression
Francine moves inland as tropical depression
New York, 12 September (Argus) — Hurricane Francine weakened to a tropical depression on Thursday after slamming into southern Louisiana as a Category 2 hurricane the previous evening and spurring offshore operators to shut in around 39pc of oil output in the Gulf of Mexico. Francine was last about 30 miles south of Jackson, Mississippi, according to an 8am ET advisory from the National Hurricane Center, with maximum sustained winds of 35mph. The storm will move over central and northern portions of Mississippi through early Friday bringing heavy rains. Offshore oil and gas operators including Shell, ExxonMobil and Chevron evacuated workers and shut in production from some of their offshore operations in advance of Francine, while a number of ports, including New Orleans, Louisiana, shut down. About 674,833 b/d of offshore oil output was off line as of 12:30pm ET Wednesday, according to the Bureau of Safety and Environmental Enforcement (BSEE), while 907mn cf/d of natural gas production, or 49pc of the region's output, was also off line. Operators evacuated workers from 171 platforms. Shell said Wednesday evening that production at its Perdido, Auger, and Enchilada/Salsa facilities in the Gulf of Mexico remained shut in, but it would reassess its position as offshore conditions improve. BP said it temporarily shut down and evacuated personnel from its Castrol lubricants facility in Port Allen, Louisiana. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Low-carbon hydrogen – when will it be competitive?
Low-carbon hydrogen – when will it be competitive?
Market drivers for HVO in 2024
Market drivers for HVO in 2024
The fight for feedstocks: UCO markets in 2024 and beyond
The fight for feedstocks: UCO markets in 2024 and beyond
Commodities we cover
From upstream production to downstream end-uses, Argus illuminates complex and opaque commodity markets through accurate and reliable price discovery and actionable insight.
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_crude-oil.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D41CA994478AB74D4FB5A65B15EF32DB4&w=750&q=75)
Crude Oil
As the leading price benchmark provider for global crude oil, Argus brings transparency to naturally opaque markets to enable trade efficiency.
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_road-fuels.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D4BBC24797E87EFFDDD900BA16A7419BC&w=750&q=75)
Oil products
Price benchmarks and forward looking analysis for global refined oil products, including; road fuels, jet fuel, marine fuels, base oils and more.
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_lpg-ngls.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D93D642FEADE4A2CE0B6E3DA9B346E9FB&w=750&q=75)
LPG/NGLs
Market-leading price assessments, news, analysis, fundamentals data and price forecasting for the global LPG and NGL markets.
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_natural-gas.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D2ADF61ED66A5DFB982DD69159772BC68&w=750&q=75)
Gas and Power
Our benchmark price assessments, news and analysis give you vital insight into the key coal markets of Europe, Asia-Pacific, the Americas and Africa.
Why Argus
![](https://play.vidyard.com/RF9CLDgfjVCQYS7hHzrjRT.jpg)
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fbreakout-promo%2Fother%2Fbreakoutpromo1600x610_platform.jpg%3Fh%3D610%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D39387F64873FC707C8C5047AA14731BE&w=3840&q=75)
illuminating the markets
For over 50 years our independent editorial, robust methodologies and collaborative approach with our customers have ensured them a precise view. This results in a deeper understanding of market dynamics they rely on to make better-informed decisions and manage risk.
What we do![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcomponents02%2Fdelivery%2Fdelivery458x769_am-is-cf-transparent-col-011.png%3Fh%3D769%26iar%3D0%26w%3D458%26rev%3D-1%26hash%3DE7D4C50107C6CF5814EAE5391F34E906&w=1080&q=75)
How we deliver our services
Our wide range of delivery methods ensures you have instant access to the information you need whenever you need it, however you want it.
The Argus advantage
![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---group---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D3CACE65F1CBE1E6007F003FBCA5988D7&w=256&q=75)
Our people
Our dedicated team of industry professionals are close to local markets, so you benefit not only from precise pricing data but the breadth of market intelligence at their fingertips. Data alone – no matter how accurate – is not sufficient.
Find out more![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---methodology---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D0803CEA699A09FAE1C0EB94EAFBE7EFD&w=256&q=75)
Methodologies
The unique market insights we deliver are founded on a deep understanding of market mechanisms. Our methodologies for price discovery are transparent and firmly based on rigorous processes and specifications developed in consultation with market participants.
Find out more![](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---building---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D6BBC9CC16F9E4941CDA60FA3B0A05618&w=256&q=75)
Heritage
For over 50 years, clients have benefited from the precise market intelligence delivered by Argus experts working collaboratively across the global commodity markets.
Find out moreLatest events
We draw upon our deep industry expertise and widespread network of well-placed industry commentators to organise events across key energy and commodity markets around the world.
Argus Fertilizer Caspian, Black Sea and Eastern European Markets
Argus Fertilizer Caspian, Black Sea and Eastern European Markets
Argus Global Coke & Carbon Conference
Argus Global Coke & Carbon Conference
Argus Road Transportation Fuels Europe Conference
Argus Road Transportation Fuels Europe Conference
How can we help?
No matter which side of the energy commodity market you are on, we remain committed to providing you with a clear focus on the intelligence that is relevant to you
![People at a board room](/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fenglish%2Fimages%2Fpeople%2Fcontact-us-forms%2Fcontact-us-form-people-01.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D15ADB845C50D6050F16F434C347C419B&w=3840&q=75)