Sinopec’s Earnings Plunge amid Low Oil Prices, Weaker Fuel Demand ...Middle East

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Sinopec’s Earnings Plunge amid Low Oil Prices, Weaker Fuel Demand
source : OILPRICE ( Middle East ) () 60
The largest Chinese and Asian refiner Sinopec reported on Thursday a 36% decline in its first-half profit on the back of lower oil prices and refining margins and weakening domestic fuel demand. China Petroleum & Chemical Corporation, or Sinopec, as it is more commonly known, booked a profit attributable to shareholders of $3.3 billion (23.75 billion Chinese yuan) for the period January to June 2025, down by 35.9% from the same period last year. “Dragged by various factors such as the declining international crude oil prices combined…

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