BP locks out union workers at its Midwest refinery

BP barred about 800 United Steelworkers from its 440,000 barrel-per-day Whiting, Indiana refinery starting 12:00 a.m. on March 19 after negotiations broke down. The action risks removing up to 440,000 bpd of U.S. refining capacity, creating short-term regional fuel supply pressure and potential upside to product prices if the shutdown persists.

Analysis

BP barred about 800 United Steelworkers from its 440,000 barrel-per-day Whiting, Indiana refinery starting 12:00 a.m. on March 19 after negotiations broke down. The action risks removing up to 440,000 bpd of U.S. refining capacity, creating short-term regional fuel supply pressure and potential upside to product prices if the shutdown persists.