US refiners to post worst second-quarter results in a decade

published 29.07.2020 14:15

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"We don't see gasoline demand recovering to pre-pandemic levels in California," Credit Suisse refining analyst Manav Gupta said in a note.

Marathon's Martinez, California, refinery has remained idle and at least one of PBF Energy's two California plants could be idled to reduce losses, Credit Suisse said.

"West Coast refining margins will be extremely weak due to a hit in driving demand...California was one of the first states to enter lockdown and has been hit again," said Blair.

REUTERS/Mike Blake/File Photo 29 Jul 2020 12:15PM Bookmark REUTERS: U.S. oil refiners in coming days are expected to report the worst second-quarter results in a decade, with production outrunning demand while pandemic-related closings have sapped summer travel.

Business US refiners to post worst second-quarter results in a decade U.S. oil refiners in coming days are expected to report the worst second-quarter results in a decade, with production outrunning demand while pandemic-related closings have sapped summer travel.

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