European refiners likely will continue to feel the pain of deteriorating margins as declining...

|By:, SA News Editor

European refiners likely will continue to feel the pain of deteriorating margins as declining demand could force further contraction in the industry, and the companies should cut output to get prices back up, Goldman Sachs says. But if the refineries are going to make any money this year, now is not the time to cut output - at least not yet. BP +0.4%, RDS.A -0.7%, TOT -1.6%.