London—The boom in production of superlight liquids from US shale oil projects and the loss of traditional light crudes from Africa is creating a global mismatch of refining capacity that could further exacerbate the impact of overcapacity in the industry, Barclays Capital analyst Amrita Sen said May 18. The surge in output of US oil and natural gas liquids with over 50 API comes at a time when most US refining capacity additions have been geared towards heavy, sour crude, Sen told an oil conference in London.
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