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المشهد العربي
Chinese independent refineries cut output
Independent oil refineries in China have fallen to their lowest level in nine years, with operating rates dropping to 50.5% during the week ending June 21. This decline is due to rising raw material costs, weak domestic demand, and export restrictions. The decrease reflects the ongoing impact of US-Iran tensions, as Beijing is the largest importer of Iranian crude, which presents unprecedented operational challenges for these refineries.
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