Several Asian refiners are likely to maximise gasoline output from May and reduce gasoil output, cashing in on higher profits for the motor fuel ahead of the peak summer driving season, industry sources and analysts say.
, one of Asia's largest oil products exporters, the company plans to cut gasoil output from some units, such as the delayed coking unit, and ramp up gasoline production from its residue fluid catalytic cracker , spokesman KY Lin told Reuters.
Refiners who can switch have been slowly making adjustments in the past few weeks, said a person working for a southeast Asia refinery who declined to be named due to company policy. Complex refinery margins in Singapore , the bellwether for Asian refining margins, have more than halved to $3.17 a barrel - the lowest since October 2022 - from an average of $7.56 in March.The extent to which Asian refiners can change production yields between light distillates - gasoline and naphtha - and middle distillates - gasoil and jet fuel - is limited on feedstock and catalyst reasons, estimated at between 3% and 5% on average, according to industry sources.
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