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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessChina’s Oil Product Surplus to Widen to 52mn Tons in 2024
China’s oil products surplus is expected to widen to 52mn tons by 2025, from 47mn tons this year, CNPC’s researcher Li Ran said, cited by Bloomberg.
- The surplus will further rise to 82mn tons by 2030.
- The severe oversupply, and the lagging of fuel price hikes in line with global crude oil price increased are squeezing margins for retailed, Li Ran added.
- China’s nationwide refining capacity is projected to expand to 980m tons by 2028, up from 936m tons in 2023.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.