China overtakes US as world’s largest refiner ...News

Russia Today - Economy
China overtakes US as world’s largest refiner
source : Russia Today ( News ) () 8
As the shift in oil demand from Covid-19 turned the tables of regional levels of fuel production and exports, China succeeded in overtaking the USA as the world’s biggest oil refiner in 2020. As China began to ramp up its refining capacity throughout the pandemic, the US Energy Information Administration (EIA) published data showing that China processed more crude oil than the U.S. for much of 2020.  While the USA suffered from a drop in demand throughout 2020, leading to a decrease in all oil-related activities, China benefited from this international shift. In contrast to the US, when oil prices fall, the Chinese government pays refi

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