The Strategist

Exxon lowers production at Baton Rouge due to low demand for raw materials

03/23/2020 - 07:44

ExxonMobil, a US oil company, is cutting production at its Baton Rouge refinery in the United States due to low demand, Reuters reported citing sources familiar with the plant.

Brian Katt
Brian Katt
"ExxonMobil has reduced production at the Baton Rouge, Louisiana refinery, as low demand resulted in an increase in stocks and tank filling," Reuters notes.

It is indicated that the volume of production at the Baton Rouge plant was 502.5 thousand barrels per day. The source said that now the volume has decreased to 440 thousand.

Last week, the company said that due to the coronavirus it is preparing to significantly reduce costs, which led to a reduction in the number of employees at the plant by 1800 people, the agency also draws attention.

Reuters notes that the Baton Rouge refinery is the second largest in Louisiana and the second largest Exxon plant in the United States. Texas-based ExxonMobil is one of the largest private oil companies in the world.