Investors should expect cuts in refinery runs for the next several weeks, as Europe and the U.S. remain in an economic recession, Petroplus' chairman of the board Tom O'Malley said last week in a third quarter earnings call."Consumption of oil products will not grow during this period, and most likely, based on historical precedence, shrink a bit. But the majority of that shrinkage is not going to be in Europe, it's going to be in the United States," O'Malley said.
展开▼
