Gasoline refinery profits could fall to zero later this year amid ample refining capacity and...

|By:, SA News Editor

Gasoline refinery profits could fall to zero later this year amid ample refining capacity and declining consumption in North America and Europe, BofA ML says: "The refining complex will need to see the shutdown of at least another 2M bbl/day of refining capacity before refinery utilization rates nudge back up" toward 2004-08 levels.