OPEC says major refinery closures needed

摘要

London-The global refining industry contin- ues to face large-scale plant closures over the next five years as it adjusts to chronic overca- pacity which will likely reach some 4 million b/d by 2015, according to OPEC. In its latest annual World Oil Outlook pub- lished November 4, OPEC said the industry's margins and refining run rates remain under intense pressures due to weak demand for fuels, new planned capacity, biofuels and shifting product demand.