SOUTH KOREA’S OIL REFINERIES CUT DOWN PRODUCTION – COVID - 19

Highlights –

• COVID-19 reduces oil consumption in the country
• Oil refineries facing a rapid loss
• Export to China has gone down

Due to the spread of COVID-19, South Korea’s oil refineries are going through a loss in demand. The oil refineries have begun to cut down production as they are losing 20 to 40 percent in income since last year.

According t....