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LONDON/NEW YORK (Reuters) - European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative - converting plants to produce biofuels. FILE PHOTO: General view of Total's oil refinery at La Mede near Marseille, southern France, July 2, 2015. REUTERS/Philippe Laurenson. The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP BP.L , say it might never recover to pre-crisis levels, the need to close refineries has accelerated. The International Energy Agency (IEA) said in a recent report that by 2030 around 14% of cur... Full story

19 October