South Korean refiners reduced production of transportation fuels by 7.8% year on year in March, cutting crude throughput 4.3% over the same period, in response to demand destruction caused by the coronavirus pandemic, latest data from state-run Korea National Oil Corp. showed Monday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The country’s refiners produced a combined 29.19 million barrels of gasoil in March, down 8.4% on the year, the KNOC data showed. Gasoline output fell 6.6% on year to 13.23 million in March, while jet fuel output fell 7.7% to 13.08 million barrels, the data showed. “Local refiners have cut output of transportation fuels to adjust potential rises in stockpiles due to demand collapse from the COVID-19 pandemic,” a Korea Petroleum Association official said. “In particular, stockpiles of jet fuel have increased due to the drastic drop in demand,” the official added. The […]