Oil demand boosted as global refinery capacity to reach record

By Henning Gloystein SINGAPORE (Reuters) - Oil demand is set to surge in the short-term as refining capacity hits a record, yet the gains may not hold as a flood of fuel gluts the market, eroding profit margins and eventually forcing refiners to cut runs and crude orders. Data on Thomson Reuters Eikon shows that available global capacity to refine oil into fuels like gasoline, diesel, or jet and shipping fuel, will reach 101.8 million barrels per day (bpd) in August, the highest on record, and u