Why Are China’s Fuel Refinery Rates So Low? ...Middle East

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Why Are China’s Fuel Refinery Rates So Low?
source : OILPRICE ( Middle East ) () 29
Fuel prices in Asia are going through the roof as demand for travel bounced back from the pandemic depression. Yet refining rates have not bounced back in sync, especially in China. And it might be deliberate. Reuters’ Clyde Russell wrote in a recent column that China’s refined oil product exports this May, at 3.27 million tons, were as much as 40 percent lower than its May 2021 fuel exports. The refined oil product exports for the first five months of the year were down 38.5 percent from a year ago. Given that the demand for fuels…

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