Cheap crude prices and strong gasoline demand will continue to keep most refineries on both sides of the Atlantic in the black in 2016, analysts say, but weak diesel profit margins in Europe and on the US East Coast will keep refineries on the closure watch list as more efficient facilities come online. US gasoline demand, which been much stronger than forecast, is expected to retain some of that strength in 2016, according to Barclays’ Paul Cheng. “We believe that the global gasoline market’s strong momentum could extend into the next couple years as the worldwide demand and supply balance continues to tighten,” the analyst wrote in a recent note. “While we think the global gasoline demand growth rate will likely slow from this year’s exceptional run rate, we forecast demand could continue to outpace supply increases in 2016 and 2017,” he added. 2015 was “an exceptional year” for […]