TSX:HSE.PR.B - Post by User
Comment by
autofocus111on Mar 23, 2020 6:56pm
111 Views
Post# 30839693
RE:RE:vanishing crack spread
RE:RE:vanishing crack spreadPablo Crack spread is vanishing due to falling demand for fuels. XOM announced a reduction in refinery run rates over the weekend.
>>>HOUSTON (Reuters) - Exxon Mobil Corp cut production on Saturday at its 502,500 barrel-per-day Baton Rouge, Louisiana, refinery as poor demand has pushed up inventories and filled storage tanks, said sources familiar with plant operations. The number of contract workers at the Baton Rouge refinery was cut by 1,800 people on Friday as Exxon begun informing service companies of planned spending cuts. The refinery’s production was cut to about 440,000 bpd on Saturday, the sources said.
https://www.reuters.com/article/us-refinery-operations-exxon-batonrouge/exxons-baton-rouge-refinery-cuts-production-due-to-low-demand-sources-idUSKBN219185