Italy's API expects Falconara refinery to restart next week

Italian oil refiner API said it expected its Falconara Marittima facility to restart production early next week after shutting down at the end of March as a result of COVID-19.

“The refinery ... has launched preliminary operations for the restart,” the group said in a statement.

The lockdown imposed by the Italian government to stop the spread of the pandemic led to a sharp fall in demand for oil products with excess supply saturating storage capacity.

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