Market Overview

Refineries cut runs by 20% in April and May, States Downstream CEO


LONDON, Aug. 24, 2020 /PRNewswire-PRWeb/ -- In Reuters Events' Impacts of Covid-19 and Oil Price Crash: Downstream Executive Perspectives Joseph Israel, CEO of Par Petroleum LLC confirms that Covid-19 led U.S refineries to "cut runs by an average to 20-25%, or approximately 3.5 million barrels per day, in April and in May".

When discussing the road to recovery, Taylor Auburg, VP Projects, Freeport LNG concludes "stability is something we haven't seen over the last several years… that's the constant in our industry, change."

The full report contains insights from across the Petrochemical, Chemical, Refining and LNG value chains which measures:

  • The impact of the Pandemic & Oil Price Crash on the Downstream Industry
  • What does this mean for Global Supply Chains, Sustainability and Digitalisation

Key contributors to the report include

  • Joseph Israel, CEO of Par Petroleum LLC
  • Alan Gelder, VP, Refining, Chemicals and Oil Market, Wood Mackenzie
  • Andreas Kicherer, Director, Corporate Sustainability, BASF
  • Taylor Auburg, VP, Projects, Freeport LNG

The Reuters Events Future of the Downstream Industry: Executive Perspectives is being launched in the run-up to the Downstream Leadership Forum 2020, which takes place on November 19 and 20, 2020, online. For a copy of the report click here and for more information about DLF2020 visit the website here or write to


SOURCE Reuters Events

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