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الاقتصادية
Chinese private refineries may cut oil output
Private oil refineries in China are expected to experience a decline in their operating rates in the coming weeks due to decreasing supplies of oil from traditional sources and rising costs. This could negatively impact demand for oil in the world's largest importer of crude. These refineries are under pressure from a naval blockade at Iranian ports and the redirection of Venezuelan oil flows, while Brent crude prices are nearing $100 per barrel. Reports have projected that Iranian oil inventories could be depleted by mid-October if refineries continue to draw down crude oil at the current pace, potentially forcing them to cut production. Additionally, refinery utilization rates have reached record lows of just 55% in coastal areas, with a significant drop in China's oil imports in June and August, reflecting supply challenges that are affecting both demand and global oil markets.
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