| Maintenance at newly built Chinese refineries is weighing on global oil demand, according to the International Energy Agency. In recent years China and other Asian governments have invested heavily in domestic refining capacity to process crude oil into usable products such as petrol and diesel.
The IEA expects Chinese refineries to demand around 300,000 barrels a day less crude oil in March compared with February, and a similar month-on-month fall in demand at refineries elsewhere in the Asia-Pacific region...........................................Full Article: Source |