Speaking at the World Economic Forum in Davos, Switzerland, the US President announced plans to urge Saudi Arabia and OPEC to bring down oil prices. While this rhetoric is expected to resonate favourably with consumers and businesses grappling with inflation
Refinery utilisation rates saw a significant drop, falling to 85.9% from 91.7% the previous week. This sharp decrease underscores a notable slowdown in refinery activity, potentially signalling weaker downstream demand or operational challenges.