Brazil’s mines and energy minister Bento Albuquerque says utilization rates at refneries operated by state-controlled Petrobras have dropped to around 60pc, down from 74pc in March. Refnery runs in March were already down from around 79pc in February and 83pc in January. The company said last week that refnery throughput would continue to slow in April and May as social distancing measures adopted by state gov- ernments cut domestic fuel demand.
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