European Oil Refiners on ‘Alert’ as Margins Slump in Past Weeks
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European oil refiners are on “high alert” after margins plunged in recent weeks, forcing them to cut production at some plants, the head of a French lobby said.
“The situation is extremely preoccupying,” said Jean-Louis Schilansky, head of the Paris-based Union Francaise des Industries Petrolieres, which represents refiners in France including Total SA and Exxon Mobil Corp. “We’re in a state of high alert. There could be consequences if this continues.”