14 Hrs
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الاقتصادية
Chinese independent refineries limit output
Independent oil refinery utilization rates in China have fallen to their lowest level in nine years, reaching 50.5% during the week ending June 21. This decline is attributed to rising feedstock costs, weak domestic demand for fuel, and export restrictions, all of which have squeezed profit margins and prompted refineries to cut back on production. This downturn comes as Iran seeks to regain momentum in its oil exports following a temporary waiver from U.S. sanctions, although the limited economic viability may constrain future recovery in refinery purchases.
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