China's teapot refiners raise rates, as state refiners cut runs

摘要

China's independent refiners nearly doubled their gasoil and gasoline production in January and output is expected to remain high on strong run rates, and continued processing of light product-yielding crudes. The country's state-owned refiners are meanwhile, starting to feel the impact of the oil products supply glut with at least two Sinopec refineries located in the vicinity of these independent plants cutting run rates.