Big Cuts in Refinery Runs Force China to Resell Crude

摘要

The West African and Mideast crude markets are being rocked by Chinese efforts to resell crude freed up by cuts in refinery runs of more than 2 million barrels per day. Three major Chinese players — Unipec, PetroChina and Sinochem — have been reoffering West African and Mideast crudes into markets where demand has already been severely weakened by refinery run cuts in China, Japan, Taiwan, South Korea and Singapore (IOD Feb.10’20).