Chinese Refining Boom Runs Out of Steam

Growth in the petroleum refining sector in China is beginning to lose momentum in what could become a disappointing turn of events for OPEC+. A survey carried out by Bloomberg among six market analysts and consultants points to flat refining output this year in China or even a decline. It would be the first decline since 2004, the publication noted in a report on the results of the survey. Last year, total refining output in China hit 14.76 million barrels daily. It was a record but this year may not see another one, because of the real…