Nelli Sharushkina

摘要

Floods have disrupted economic activity and transportation in China, threatening to derail the recovery of a key market that is grappling with swollen inventories of crude oil and refined products. Faced with a dip in demand and rapidly rising stocks, Chinese refiners are pondering a fresh round of run cuts. At least 30 very large crude carriers (VLCC) are backed up, waiting to discharge their cargoes at ports in the Shandong and Zhejiang regions. And a reduction in refinery throughputs would only make matters worse.