US refiners cut crude runs

ExxonMobil and Phillips 66 have cumulatively cut about 100K b/d of refining capacity as weakening demand has increased inventories, filling up storage, newswires report.

On Saturday, ExxonMobil cut 62K b/d at its its 502K b/d Baton Rouge refinery, while according to market sources, Phillips 66 have cut rates at its 258K b/d Bayway refinery by between 10% and 15%. Reuters report about three refiners in California have also cut runs.