As the Asia Oil & Gas conference enters its second day in Singapore, Equinor has announced that the oil markets are showing signs of tightness. With refineries around the region running hard, experts are predicting that Asia's demand for oil and gas will continue to rise in the coming months. This news comes as the industry grapples with the impacts of the COVID-19 pandemic and growing concerns over climate change.
1. Equinor announces tightness in oil markets at Asia Oil & Gas conference in Singapore.
2. Refineries in the region running at full capacity.
3. Asia's demand for oil and gas expected to continue rising in the coming months.
4. Industry grapples with the impacts of COVID-19 pandemic.
5. Growing concerns over climate change in the oil and gas industry.
Refineries in Asia are operating at a utilization rate of around 90%.
Equinor, one of the major players in the global oil and gas industry, has highlighted the prevailing tightness in oil markets at the ongoing Asia Oil & Gas event in Singapore. As the largest oil event in Asia enters its second day, industry experts and leaders are closely monitoring the forecasts and trends being discussed by key stakeholders. With refineries working at full capacity to keep up with the surging demand for oil in the region, Equinor's statement further underscores the present state of tightening supplies and the need for increased production to meet the growing energy needs of various Asian economies.