The Phillips 66 oil refinery is viewed from the air in Carson, California August 5, 2015. U.S. refiners’ months-long windfall from cheap and plentiful crude showed further signs of running out of steam on Wednesday as a second refinery, Delta Airlines’ Monroe Energy, prepared to cut output and another dumped unwanted crude. With companies taking frantic measures to combat declining profits as inventories rocket to fresh record highs and sluggish winter demand hurts profits, traders speculated that further cuts may be on their way. Monroe Energy will cut output by 10 percent at its 185,000 barrel-per-day refinery outside of Philadelphia, a source familiar with the plant’s operations told Reuters on Wednesday. A day earlier, top U.S. independent refiner Valero Energy Corp was the first to capitulate to worsening market conditions with a 25-percent cut to gasoline output at its 180,000 Tennessee refinery. While those cuts are only a tiny […]