Global refining activity slump extends into May as glut builds - IEA
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LONDON (Reuters) - The sharp decline in global refining activity has continued in May, the International Energy Agency said in its monthly oil market report on Thursday, as refiners face the double whammy of rising crude prices and falling diesel profits. The agency now sees global crude refining throughput at 66.2 million barrels-per-day, unchanged from April, and more than 14 million bpd lower from a year ago. Gradual recovery could start appearing in June, it added."If crude supply adjusts..