In the first half of the year, world refined production and apparent refined usage declined by about 1% from a year ago, according to the latest report by the ICSG.
“The fall in world refined production was mainly due to lower output in Chile (down 38%), India (down 33%), and Zambia (a 28% decline) in the wake of smelter shutdowns for unit upgrading and maintenance [as well as] power supply interruptions among other factors in those countries,” the ICSG said on September 23....
