European refiners slow crude runs in May

LONDON: Crude oil intake at Europe's refineries in May was 2.4 percent lower than in April at 10.175 million barrels per day, data from industry monitor Euroilstock showed on Monday.

But crude intake, or the amount of oil refineries processed, was 5.4 percent higher than a year earlier.

Europe's stocks of crude oil and oil products were hardly changed compared with April and down 0.5 percent from May 2016.

Fuel oil stocks were down 13.5 percent year on year largely due to lower Russian availability and to OPEC-led output cuts which have slashed the availability of fuel oil rich sour crudes.