Chinese refiners should reduce fuel production in favor of more petrochemicals, the country’s central planning agency said in its annual report. “We will advance petrochemical industries toward fine chemical industries by cutting the output of refined petroleum products, increasing the output of chemical products, and enhancing quality,” the National Development and Reform Commission said, as quoted by Bloomberg. China’s demand for fuels has been undermined by the surge in EV sales in recent years and the introduction of…
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