Italy's API suspends oil refinery output as coronavirus hits demand

•  "The depot will continue to operate and to provide products to the area," the spokesman added.

LONDON: Italian refiner API will temporarily suspend production at its oil refinery in Ancona as the lockdown in Italy to contain the spread of the coronavirus hits fuel demand, a spokesman said on Friday.

The shutdown is the first in Europe due to the COVID-19 pandemic. The 85,000 barrel-per-day Ancona refinery will shut down over the next few days.

"The depot will continue to operate and to provide products to the area," the spokesman added.

Gunvor Group said earlier this week that it would delay a turnaround at its Rotterdam refinery that had already been shut in early March in preparation.

Refineries around the world have been reducing runs as global fuel demand is set to drop by as much as 15% to 20% in the second quarter.