Refiners face double whammy of low demand, plunging crude prices
Mar 9, 2020
South Korean oil refiners are facing a double whammy of sluggish demand and tumbling international crude prices that will make a big dent in their first-quarter earnings, industry sources said Monday. Since the coronavirus outbreak, local refineries have been struggling to cope with falling refining margins and weaker demand for their products both at home and abroad. A refining margin, a key measure of refiners' profitability, is the difference between the total value of petroleum products an