Reported about 1 year ago
China, the world's top crude importer, is expected to see oil refining remain flat or even decline for the first time in years. The prolonged property crisis and increasing use of new-energy vehicles are contributing to lower oil demand. Refiners are extending maintenance schedules, and OPEC+ faces a dilemma on increasing output. Benchmark oil prices have been decreasing, and industry experts predict varying outcomes for China’s refining industry in 2024.
Source: YAHOO