Chevron cuts output at its South African refinery

Oil

Chevron has cut output at its 110K b/d South African refinery by a third due to a mechanical fault, Reuters reports citing a spokeswoman from the company. The firm is �implementing all the necessary measures, including securing contingency product supplies of petrol and diesel to address potential shortfalls�. � By late afternoon in London, ICE Brent crude was trading at $48.34/bbl.