Goldman Sachs predicts that the diesel profit margin will decline from current levels.

Goldman Sachs stated that due to continuous structural tightening of refining capacity, diesel profit margins are expected to decrease from current levels, but will still be higher than the pre-pandemic average level. Despite normalizing crude oil prices and reduced geopolitical risks, profit margins continued to increase in July. This growth is mainly attributed to a 10%-15% year-on-year decline in global diesel inventories, unexpected refinery outages in Europe, and strong demand for diesel in the financial markets. Goldman Sachs predicts that from the second half of this year to 2026, diesel refining margins will remain at $10 per barrel, higher than the average level from 2013-2019.