Spencer Welch is a director on the Oil Markets and Downstream team at IHS Markit, based in the London office. Mr. Welch leads the crude oil valuation and marketability studies for the Europe, Middle East and Africa region, and he has headed a number of studies to assess the fair market value of new crudes. He brings more than 20 years of downstream technical, operational and economic experience to his role at IHS Markit. Mr. Welch held posts with independent oil refiner, Petroplus at Coryton Refinery, UK, prior to joining IHS in 2011. During 13 years with BP at a variety of locations, he held downstream roles, including refinery process engineering, production planning and operations management. During that time, he developed specialist knowledge in reforming, isomerization and hydro-processing, and he gained a broad knowledge of most other refinery processes and linear programming. He has experience in refinery technical support and aviation fuel storage/distribution projects. Mr. Welch holds a Bachelor of Engineering (B.Eng.) from Loughborough University, UK, and the Master of Science (M.Sc.) Engineering Management degree from Bristol University, UK.