Chinese Refiners Rush To Stock Up On Crude Oil ...Middle East

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Chinese Refiners Rush To Stock Up On Crude Oil
Chinese refiners have increased their crude oil purchases ahead of the year’s end as they see higher fuel exports in the final months of the year. According to Bloomberg, Chinese companies have bought at least 10 million barrels of crude over the past week, mostly from the Middle East, West Africa, and Brazil, signaling the demand situation has changed for the better. One of the main reasons for this demand optimism is the global diesel shortage. A decline in global refining capacity, especially in Europe and the United States has curbed…

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