New York, November 03, 2014 -- Significant capacity additions in the Middle East, capacity creep in North America and moderate capacity additions in Latin America mean refiners in North America and EMEA won't see their refining margins expand next year, Moody's Investors Service says in a new report. Large-scale, export-oriented capacity additions in the Middle East will pressure smaller, less complex refineries, particularly in the euro area, and refinery closures will be necessary to balance markets.
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