still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline
market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a
to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of
affected by the year round global oil price fluctuation, especially in the last quarter which oil price plunged drastically. Moreover, the refinery recorded lower crude run due to its 45 days turnaround
Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA
their allies unable to come to terms on oil production cuts. This further exemplified pressure on the price of crude in the global market to make a severe reduction late in the quarter. Average price of
affected by the decline in most of the finished product and crude oil crack spreads, as a result of the oversupply situation in finished oil products, and the anxieties over the trade war between the US and
spread between finished product and crude oil in every product category, and from the higher average crude oil price; resulting in an Inventory Gain of THB 834 million, exceeding 2016’s. Moreover, there
every finished product and crude oil price crack spreads, with supporting factors ranging from the maintenance of various refineries in North Asia, as well as concerns over supplies tightening after the
government sector introducing stimulus packages, which would cause demand for fuel consumption in the industrial and transport sector to increase. Moreover, the excess of crude oil supply trends to decrease