Saudi Arabia’s demand for oil products could increase by up to 20 percent this summer from last year as soaring temperatures stoke demand for power generation, but new refineries will limit the need for imports, traders and analysts said. Requirements for fuel oil, the cheapest form of oil to burn to generate electricity, could climb by up to 20 percent this year, although demand for pricier gasoil is likely to be unchanged from last year. Imports of the middle distillate into the country are expected to hit a record low this year due to new refineries’ ability to meet demand, potentially curbing Asian gasoil margins as this removes a major outlet for barrels, traders said. Saudi Arabia has added 800,000 barrels per day (bpd) of new capacity in its refineries of Yanbu and Jubail over the past two years, reducing its reliance on imports and stalling term talks […]