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Phillips 66 expects to spend 43pc less in 2021
- The company said market conditions "remain challenged" after the COVID-19 pandemic decimated fuel demand for most of 2020.
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U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around 43pc lower than the forecast for this year.
The company said market conditions "remain challenged" after the COVID-19 pandemic decimated fuel demand for most of 2020.