Poor demand depresses run rates

摘要

Weak demand and poor refining margins are leading to extensive run cuts and refinery shutdowns across Europe this quarter.European crude throughputs were just 10.9mn b/d in June and July in Europe - the first time they have been below limn b/d since early 1995, according to Euroilstock data. Refinery utilisation dipped to 83pc last month from 91pc in the same month last year.