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