American Refiners To Refrain From Investing Amid Uncertainty

Reuters reports that U.S. refiners will refrain from making any substantial investments in expanding domestic crude processing or reducing reliance on Canada and Mexico, for instance, as the industry rallies around a war cry of frustration with the Trump administration over a global tariff war that threatens to strip demand and possibly spark a worldwide recession.  "We consider the adoption of the 'reconciliatory tariffs' will result in weaker global GDP growth and so lower oil demand growth, oil prices and weaker refining margins, as exemplified…