Binh Son refinery cuts output amid weak demand

Oil

Binh Son Refining and Petrochemical has cut output at its 130K b/d refinery in Central Vietnam to 80% of its capacity due to weak domestic fuel demand, Reuters report. This comes after the refinery previously reduced output to 90% of its capacity last month amid fears of a supply chain disruption. The refinery has reportedly recently sold 1M bbls of crude oil, and could potentially sell a further 1M bbls in order to free some storage capacity amid surging refined fuel inventories and weak sales.