Wednesday, August 26, 2026
Oil refiners worldwide struggle with weak demand, inventory glut- oil and gas 360

Oil refiners worldwide struggle with weak demand, inventory glut

Reuters NEW YORK/LONDON/MELBOURNE- Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts. Refiners cut output by as much as 35% in spring as coronavirus lockdowns destroyed the need