London — Permanent refining capacity closures expected for 2020/2021 have risen to about 1.7-million barrels per day (bpd) as the Covid-19 pandemic hammers demand for oil products, the International Energy Agency (IEA) said on Thursday.

About a dozen refinery closures have been announced in the past few months, the IEA said, with the bulk of capacity closures — over 1-million bpd — happening in the US...

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